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Gold climbs back above $4,350 as USD remains depressed ahead of FOMC Minutes
Gold (XAU/USD) climbs back above $4,350 during the first half of the European session, reversing a part of the previous day's heavy losses.
Silver Price Forecast: XAG/USD extends decline to near $63 amid continued energy supply risks
Silver price (XAG/USD) is down 0.5% to near $63.00 during the Asian trading session on Wednesday. The white metal extends its Tuesday’s decline amid fears of prolonged inflation concerns on the back of continued energy supply disruption.
US President Trump: I have paused 50% tariffs against Canada
Following overnight negotiations with Canadian Prime Minister Mark Carney, US President Donald Trump announced on Wednesday, “I have paused 50% tariffs against Canada for a three-day period.”
RBA’s Hauser: Will have to raise rates again if inflation doesn’t come down
Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said during the Asian trading session on Wednesday that inflation is too high and the central bank needs to raise interest rates to bring price pressures down.
Japanese Yen gains ground as BoJ rate hike bets rise
The USD/JPY pair edges lower to around 159.45 during the Asian trading hours on Wednesday. The Japanese Yen (JPY) strengthens against the US Dollar (USD) as market expectations grow for another interest rate hike by the Bank of Japan (BoJ).
United States Dollar Index hovers above 99.50 due to safe-haven support
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is steadying after registering minor gains in the previous day and trading around 99.60 during the Asian hours on Wednesday.
United Kingdom CPI inflation jumps to 2.9% YoY in July, as expected
The United Kingdom (UK) headline Consumer Price Index (CPI) climbed 2.9% over the year in July, compared to a rise of 2.6% in June, the data released by the Office for National Statistics (ONS) showed on Wednesday.
New Zealand Dollar declines to weekly low as USD holds firm ahead of FOMC Minutes
The NZD/USD pair is seen extending this week's retracement slide from the 0.5925 area, or the highest since June 3, and drifting lower for the second straight day on Wednesday.
British Pound declines below 1.3550 on soft UK labour figures, traders brace for CPI data
The GBP/USD pair loses ground to around 1.3535 during the early Asian trading hours on Wednesday. The British Pound (GBP) weakens against the US Dollar (USD) amid disappointing UK labour data.
Australia Wage Price Index (QoQ) in line with expectations (0.8%) in 2Q
Australia Wage Price Index (QoQ) in line with expectations (0.8%) in 2Q
Australia Wage Price Index (YoY) in line with expectations (3.2%) in 2Q
Australia Wage Price Index (YoY) in line with expectations (3.2%) in 2Q
WTI rises to near $85.00 amid escalating US-Iran tensions
West Texas Intermediate (WTI) oil price extends its gains for the fourth consecutive day, trading around $84.80 per barrel during the Asian hours on Wednesday.
Canadian Dollar consolidates near 1.3900 vs USD ahead of US tariffs deadline, FOMC Minutes
The USD/CAD pair struggles to capitalize on this week's modest recovery from its lowest level since June 3 and oscillates in a range around the 1.3900 mark during the Asian session on Wednesday.