EUR/USD
EUR/USD breaks its three-day losing streak, trading around 1.1050 during Wednesday’s Asian session. The upside of the pair is attributed to the subdued US Dollar ahead of the US Consumer Price Index data scheduled to be released later in the North American hours.
GBP/USD
GBP/USD attracts some buyers on Wednesday amid a modest USD decline. The fundamental backdrop warrants before placing aggressive bullish bets. Traders might also prefer to wait for the release of the crucial US CPI report.
USD/JPY
The USD/JPY pair remains under some selling pressure for the second successive day on Wednesday, albeit finds some support near the 142.00 mark and recovers a few pips in the last hour. Spot prices currently trade around the 142.30 region, well within the striking distance of a one-month low touched last week.
AUD/USD
The AUD/USD pair holds its position on Wednesday, following remarks from the Reserve Bank of Australia’s (RBA) Assistant Governor for Economics, Sarah Hunter. However, the Australian Dollar’s (AUD) losses may be limited as RBA Governor Michele Bullock maintained a hawkish outlook last week, emphasizing that it is too soon to consider rate cuts with elevated inflation.
NZD/USD
NZD/USD trims its intraday losses, trading around 0.6150 during the Asian session on Wednesday. The US Dollar (USD) faces challenges as the US Treasury yields continue to decline ahead of the US Consumer Price Index (CPI) data scheduled to be released later in the North American hours. This inflation report may offer fresh cues regarding the potential magnitude of the Federal Reserve’s (Fed) interest rate cut in September.
USD/CAD
The USD/CAD pair holds into gains near 1.3550 in Tuesday’s North American session. The Loonie asset remains firm as the US Dollar (USD) clings to gains amid uncertainty ahead of the United States (US) presidential debate and the Consumer Price Index (CPI) data for August, which will be published on later today.
USD/CHF
USD/CHF continues to lose ground, trading around 0.8430 during the Asian hours on Wednesday. US Dollar (USD) faces challenges as the Treasury yields continue to decline ahead of the US Consumer Price Index (CPI) data scheduled to be released later in the North American hours.
CRUDE OIL
Crude prices bounced on Wednesday as concerns about Tropical Storm Francine disrupting supply of oil outweighed worries about demand.
Gold price is consolidating a two-day uptrend above $2,500 in Wednesday’s Asian trading. Gold buyers take a breather, with the next directional move likely triggered by the critical US Consumer Price Index data due later this Wednesday.
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