EUR/USD
EUR/USD retraces its recent gains registered in the previous session, trading around 1.0500 during the Asian hours on Wednesday. The currency pair loses ground as the US Dollar appreciates amid improving US Treasury yields.
GBP/USD
The GBP/USD pair gives up part of its recent gains from the prior session, hovering around 1.2650 during Wednesday’s Asian session. Despite this pullback, technical analysis of the daily chart indicates a sustained bullish outlook as the pair remains within an ascending channel pattern.
USD/JPY
The USD/JPY pair rebounds to near 149.30 during the Asian trading hours on Wednesday. However, the global risk-off sentiment and rising bet of more interest-rate hikes from the Bank of Japan (BoJ) might boost the Japanese Yen (JPY) and cap the upside for the pair.
AUD/USD
The Australian Dollar (AUD) remains subdued against the US Dollar (USD) for the fourth consecutive day on Wednesday. The AUD/USD pair remains under pressure after Australia’s monthly Consumer Price Index (CPI) showed a 2.5% year-over-year rise in January, matching December’s increase. This fell short of market expectations for 2.6% growth.
NZD/USD
NZD/USD continues its losing streak for the fourth successive session, trading around 0.5720 during the Asian hours on Wednesday. Traders remain cautious ahead of New Zealand’s February consumer confidence report due Friday, while the official PMI reading from key trading partner China is expected over the weekend.
USD/CAD
The USD/CAD pair extends the rally to near 1.4315 during the late American session on Tuesday. The Canadian Dollar (CAD) amid the fears that US trade tariffs will be implemented. Investors will take more cues from the US New Home Sales and Fedspeak later on Wednesday.
USD/CHF
USD/CHF remains under pressure for the fourth consecutive session, hovering around 0.8970 during Asian trading hours on Tuesday. The pair’s decline is driven by a weaker US Dollar (USD), weighed down by disappointing US economic data, including last week’s Jobless Claims and the S&P Global Purchasing Managers’ Index (PMI).
CRUDE OIL
Oil prices rose marginally on Wednesday, bouncing off two-month lows hit in the prior session after an industry group reported U.S. crude stockpiles fell last week.
Gold price struggles to build on Tuesday’s rebound in the Asian session on Wednesday. Gold buyers try their luck as safe-haven flows return on US President Donald Trump’s tariff uncertainty and weak US economic prospects.
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