EUR/USD
EUR/USD halts its two-day losing streak, trading around 1.0440 during the Asian hours on Wednesday. However, the pair could continue facing challenges amid risk-off sentiment ahead of the Federal Reserve’s interest rate decision scheduled later in the North American session.
GBP/USD
GBP/USD remains steady after registering losses in the previous session, trading around 1.2440 during the Asian hours on Wednesday. The pair’s downside could be attributed to the increased risk aversion due to tariff threats made by US President Donald Trump.
USD/JPY
The Japanese Yen (JPY) attracts fresh buyers during the Asian session on Wednesday and recovers a part of the previous day’s losses against its American counterpart part amid bets for more interest rate hikes by the Bank of Japan (BoJ). Apart from this, the recent narrowing of the US-Japan yield differential, led by rising the divergent BoJ-Federal Reserve (Fed) policy expectations, turns out to be another factor that benefits the lower-yielding JPY.
AUD/USD
The Australian Dollar (AUD) extends its losses for the third consecutive day against the US Dollar (USD), driven by lower-than-expected Consumer Price Index (CPI) data from Australia released on Wednesday.
NZD/USD
The NZD/USD pair extends the decline to near 0.5665 during the early Asian session on Wednesday, pressured by the renewed US Dollar (USD) demand. The US Federal Reserve interest rate decision will take center stage later on Wednesday.
USD/CAD
The USD/CAD pair maintains its position after two consecutive days of gains, trading close to 1.4400 during the Asian session on Wednesday. On the daily chart, the pair is within an ascending channel, indicating a prevailing bullish trend.
USD/CHF
he USD/CHF recovers some ground after posting 0.45% losses on Wednesday amid broad US Dollar weakness. Buyers moved in and pushed spot prices above the 0.9000 figure, gaining over 0.26% on Tuesday.
CRUDE OIL
Oil prices slid on Wednesday, giving up some of last session’s gains, as an increase in U.S. crude stockpiles and easing worries over Libyan supplies weighed on prices, although the decline was limited by potential U.S. tariffs on Canadian and Mexican imports.
Gold price consolidates in a narrow band on Wednesday amid mixed fundamental cues. A positive risk tone caps the XAU/USD, though sliding US bond yields lend some support. Traders also seem reluctant to place directional bets ahead of the FOMC policy decision.
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