Russia’s industrial output for February was reported at 0.2%, falling short of forecasts, which anticipated a decrease of 1.8%. This marked a notable decline in production performance.

The AUD/USD pair traded near 0.6300 as the US Dollar withdrew from recent highs. Concerns regarding a global trade war kept buyers cautious despite the slight recovery prompted by tariff exemptions announced by US President Trump.

Usd Jpy And Market Uncertainty

In contrast, USD/JPY dipped to test the 150.00 level, influenced by the same tariff developments and ongoing market uncertainty.

Gold prices remained buoyant, trading above $3,000, driven by safe-haven demand amid trade war anxieties and the US Dollar’s recent decline.

Wyoming has announced plans to launch WYST, a US Dollar-backed stablecoin, which is set to be fully secured by US Treasuries and cash by July.

UK services inflation showed a slight uptick in February, reflecting the impact of an impending rise in employer National Insurance, although a decline is expected in the following quarter.

Russia’s industrial output for February managed to outperform bleak expectations, yet the reported 0.2% growth still highlights a weakening trend in production. Forecasts had pointed to a sharper decline of 1.8%, but the modest expansion suggests that domestic demand may have provided some support. Even so, given previous months’ data, the broader picture remains one of sluggish performance. Those with exposure to rouble-denominated instruments should be attentive to any upcoming policy responses that could shift the outlook.

The Australian dollar hovered near 0.6300 against the US dollar as the latter lost some ground from its recent highs. While temporary relief came following tariff exemptions announced by Trump, concerns tied to global trade tensions kept investors hesitant. Any further changes in US trade policy may dictate whether this pair establishes a firmer rebound or remains under pressure.

The yen advanced slightly, bringing USD/JPY down towards the 150.00 mark. Risk sentiment appeared to waver due to ongoing uncertainty surrounding international tariffs, which contributed to the movement. A weaker US dollar alongside cautious positioning ahead of potential monetary shifts in Japan may lend continued support to the yen in the short term.

Gold prices stayed elevated, trading above $3,000. Safe-haven demand remained a strong driver, fuelled by heightened anxieties over trade disruptions and the US dollar’s retreat. Should risk aversion persist, the metal could see further inflows, potentially reinforcing its current standing. However, any renewed strength in the dollar may introduce resistance.

Wyoming Stablecoin Initiative

Wyoming’s decision to introduce WYST, a stablecoin tied to the US dollar, could soon provide a new on-chain alternative for those seeking exposure to government-backed assets. Fully backed by US Treasuries and cash, the token is expected to reach full collateralisation within the next few months. If adoption trends gain momentum, this may introduce fresh dynamics into the digital asset environment.

In the UK, services inflation picked up slightly in February, likely linked to the upcoming employer National Insurance adjustments. However, forecasts suggest that a decline could materialise in the next quarter. Whether this transitory bump influences Bank of England decision-making remains to be seen, but for now, the expectation leans towards easing later in the year.

Create your live VT Markets account and start trading now.