EUR/USD
The EUR/USD pair struggles to capitalize on this week’s goodish recovery move from the 1.1415-1.1410 area, or its lowest level since August 2025, and oscillates in a narrow band during the Asian session on Wednesday. Spot prices currently trade just below mid-1.1500s, nearly unchanged for the day, as traders opt to wait for the key central bank event risks before placing fresh directional bets.
GBP/USD
The Pound Sterling (GBP) extends its winning streak against the US Dollar (USD) for the third trading day on Wednesday. The GBP/USD pair trades 0.1% higher to near 1.3370 during the early European trading session as the US Dollar is under pressure ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
USD/JPY
The Japanese Yen (JPY) trades almost flat around 159.00 against the US Dollar (USD) during the Asian trading session on Wednesday. The USD/JPY pair consolidates as investors await the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
AUD/USD
The AUD/USD pair trades 0.15% higher at around 0.7115 during the late Asian trading session on Wednesday. The Aussie pair rises as the Australian Dollar (AUD) trades broadly firm, following the Reserve Bank of Australia’s (RBA) monetary policy announcement on Tuesday, in which it raised its Official Cash Rate (OCR) by 25 basis points (bps) 4.1%.
NZD/USD
The NZD/USD pair strives to extend its recovery move above 0.5870 during the European trading session on Wednesday. The Kiwi trades higher as the US Dollar (USD) struggles to gain ground ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
USD/CAD
The USD/CAD pair trades in a tight range around 1.3700 during the European trading session on Tuesday. The Loonie pair consolidates as investors await monetary policy announcements by the Bank of Canada (BoC) and the Federal Reserve (Fed) on Wednesday.
USD/CHF
USD/CHF gains ground after two days of losses, trading around 0.7850 during the Asian hours on Wednesday. The pair holds ground as the US Dollar (USD) remains steady on market caution ahead of the Federal Reserve’s (Fed) policy decision.
According to the CME FedWatch Tool, markets widely expect the Federal Reserve to keep its benchmark interest rate unchanged at 3.50%–3.75% on Wednesday. If the Fed opts to hold rates steady, it would mark the second consecutive pause, reflecting a cautious stance amid increasing economic and geopolitical uncertainty.
CRUDE OIL
Investing.com– Oil prices fell in Asian trade on Wednesday, stepping back from strong recent gains after Iraqi and Kurdish authorities agreed to resume oil exports through Turkey’s Ceyhan port.
Gold (XAU/USD) extends its sideways consolidative price move around the $5,000 psychological mark heading into the European session on Wednesday as traders seem hesitant ahead of the crucial FOMC decision. The US Federal Reserve (Fed) is widely expected to maintain the status quo and keep interest rates steady at the end of a two-day meeting. The market focus, however, will be on the accompanying policy statement and updated economic projections, including the so-called dot plot. Moreover, Fed Chair Jerome Powell’s comments during the post-meeting press conference will be scrutinized closely for more cues about the path of future interest rates amid fears of a war-driven spike in inflation. This, in turn, will influence the US Dollar (USD) price dynamics and provide a fresh directional impetus to the non-yielding yellow metal.
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