Forex
EUR/JPY trades around 183.00 on Tuesday at the time of writing, down 0.10% on the day, as the Japanese Yen (JPY) benefits from renewed safe-haven demand amid rising geopolitical tensions in the Middle East.
West Texas Intermediate (WTI) US Crude Oil prices attract fresh buyers on Wednesday and climb back closer to the highest level since January 2025, touched the previous day.
Forex
Here is what you need to know on Wednesday, March 4:
Commodities
Tensions in the Strait of Hormuz have pushed energy prices higher, but markets remain relatively calm as a full blockade by Iran is seen as unlikely. Asian economies would be most exposed to disruptions in oil flows. While global oil supply buffers could temporarily stabilize the market, prolonged conflict could significantly increase energy prices and shipping costs.
Forex
The EUR/GBP cross holds positive ground near 0.8710 during the early European session on Wednesday. The Euro (EUR) edges higher against the Pound Sterling (GBP) following hotter-than-expected Eurozone inflation data.
Forex
Commerzbank’s Antje Praefcke argues that geopolitical tensions in the Middle East are increasingly negative for the Euro compared with the Dollar, given Europe’s dependence on energy imports and already sluggish growth.
Risk-off sentiment dominates as fears of a Strait of Hormuz closure intensify despite US naval escort assurances. Oil trades near $76, gold advances, and Asian equities slide sharply. With market-implied odds of a Hormuz shutdown above 70%, recession and liquidity risks are rising. EUR/CHF remains under pressure, with 0.9010 emerging as a key downside trigger.
Forex
The USD/CHF pair loses traction to around 0.7805 during the early European session on Wednesday. The Swiss Franc (CHF) gathers strength against the Greenback on safe-haven flows stemming from Middle East tensions.
Commodities
Silver price (XAG/USD) recovers over 3% during the Asian hours on Wednesday, hovering around $85.20 per troy ounce after plunging more than 12% over the previous two sessions. The precious metal draws safe-haven demand as geopolitical conflict in the Middle East intensifies.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $74.50 during the early Asian trading hours on Wednesday. The WTI jumps to its highest since June 2025 as a widening conflict between the US, Israel, and Iran severely disrupts global energy supplies.
