FX.co ★ Palladium at Over a Week High

Palladium futures rose above $1,700, rebounding to their highest level in more than a week, supported by broad strength across platinum group metals despite a firmer dollar. Investors remained focused on the upcoming Federal Reserve meeting minutes for signals on the future path of interest rates, which could shape risk appetite and trading positioning. Upside momentum was partly capped as immediate supply concerns eased amid progress in US–Iran nuclear negotiations, though underlying structural issues remain. At the same time, sporadic disruptions to South African metal production continue to constrain medium‑term supply. On the demand side, sentiment improved after Beijing unveiled new industry guidelines aimed at stabilizing the auto market, following a near 20% drop in passenger car sales in January. These measures are expected to bolster the automotive sector and, in turn, support palladium consumption for catalytic converters.