EUR/USD
The EUR/USD pair weakens to near 1.0935 during the Asian trading hours on Wednesday, pressured by a modest recovery in the US Dollar. Traders prefer to wait on the sidelines ahead of the US Federal Reserve interest rate decision on Wednesday.
GBP/USD
GBP/USD edges lower, trading around 1.2990 during Asian hours on Wednesday after posting gains in the previous two sessions. The pair struggles as the US Dollar (USD) remains firm, supported by stable US Treasury yields ahead of the Federal Reserve’s (Fed) interest rate decision later in the day. Markets widely expect the Fed to hold rates steady amid persistent inflation concerns and economic uncertainty.
USD/JPY
USD/JPY gains traction and rises toward 150.00 in the European morning after BoJ Governor Ueda said that they will continue to adjust the degree of policy easing. Earlier in the day, the BoJ announced that it left monetary policy settings unchanged, as anticipated.
AUD/USD
The Australian Dollar (AUD) remains subdued for the second consecutive day on Wednesday. The AUD/USD pair depreciates as the US Dollar (USD) stays firm, supported by stable US yields ahead of the Federal Reserve’s (Fed) interest rate decision later in the day. No rate changes are expected amid persistent inflation concerns and heightened economic uncertainty.
NZD/USD
NZD/USD remains subdued for the second consecutive day, hovering around 0.5810 during Wednesday’s Asian session. The pair faces downward pressure following the release of New Zealand’s Q1 2025 Westpac Consumer Survey, which indicated weakening consumer confidence.
USD/CAD
The USD/CAD pair is seen building on the overnight bounce from the 1.4260 area, or a nearly two-week low, and gaining some follow-through positive traction for the second straight day on Wednesday. Spot prices climb back above the 1.4300 mark during the Asian session, though the upside seems limited as traders might opt to wait for the outcome of the highly-anticipated FOMC policy meeting.
USD/CHF
The USD/CHF pair gains ground to around 0.8770 during the Asian session on Wednesday, bolstered by the renewed Greenback demand. The US Federal Reserve (Fed) interest rate decision will take center stage on Wednesday, with no change in rate expected. The attention will shift to the Swiss National Bank (SNB) policy meeting later on Thursday.
CRUDE OIL
Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump’s proposal that Moscow and Kyiv stop attacking each other’s energy infrastructure temporarily, which could lead to more Russian oil entering global markets.
Gold price is picking up fresh bids to hit a new record high near $3,040 early Wednesday. Gold buyers regain poise amid looming geopolitical risks while bracing for the all-important US Federal Reserve monetary policy announcements.
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