EUR/USD
The EUR/USD pair gains momentum to around 1.1685 during the Asian trading hours on Wednesday. The US Dollar weakens against the Euro amid rising bets of a Federal Reserve rate cut in September. The speeches from Fed officials will be in the spotlight later on Wednesday, with Austan Goolsbee and Raphael Bostic set to speak.
GBP/USD
GBP/USD remains steady after registering 0.5% gains in the previous session, trading around 1.3500 during the Asian hours on Wednesday. The pair further appreciates as the US Dollar struggles, driven by the latest United States inflation data, which strengthened expectations for a US Federal Reserve rate cut in September.
USD/JPY
The Japanese Yen (JPY) sticks to intraday losses through the Asian session on Wednesday and remains close to over a one-week low touched against its American counterpart the previous day. The uncertainty over the likely timing of the next interest rate hike by the Bank of Japan (BoJ), along with the underlying bullish sentiment, turns out to be key factors undermining demand for the safe-haven JPY.
AUD/USD
The Australian Dollar (AUD) moves little on Wednesday after registering gains in the previous session. The AUD/USD pair remains subdued following the release of Wage Price Index data for the second quarter. The Aussie Dollar faced challenges after the Reserve Bank of Australia (RBA) cut rates for the third time in 2025, indicating easing inflation and modest cooling in labor market conditions.
NZD/USD
The NZD/USD pair loses traction near 0.5950 during the early Asian session on Wednesday. The New Zealand Dollar (NZD) softens against the US Dollar (USD) despite rising bets for a Federal Reserve (Fed) September rate cut. Traders will take more cues from Fedspeak later on Wednesday.
USD/CAD
The USD/CAD pair gathers strength to near 1.3780 during the Asian trading hours on Wednesday. A decline in crude oil prices weighs on the commodity-linked Canadian Dollar (CAD) and creates a tailwind for the pair. Federal Reserve (Fed) officials are set to speak later on Wednesday, including Austan Goolsbee and Raphael Bostic.
USD/CHF
The USD/CHF pair trades with caution around 0.8060 during the late Asian session on Wednesday. The Swiss Franc pair is under pressure as the US Dollar (USD) has been battered by accelerated expectations that the Federal Reserve (Fed) could resume its monetary expansion cycle from the September meeting.
CRUDE OIL
Oil prices were steady on Wednesday as investors awaited clearer indications of U.S. inventory data, while eyeing an upcoming meeting between U.S. President Donald Trump and Russian President Vladimir Putin.
Gold holds the previous bounce led by US CPI data early Wednesday. The US Dollar hangs near two-week lows amid heightened Fed rate cut expectations and risk rally on global stocks. Gold appears vulnerable as the 4H chart portrays a bearish outlook.
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