EUR/USD
EUR/USD halts to continue a two-day winning streak ahead of the monetary policy decisions from the United States and the Eurozone on Wednesday and Thursday, respectively. The EUR/USD pair trades lower around 1.0790 during the Asian session on Wednesday.
GBP/USD
GBP/USD exhibits a sideways movement as it braces for a barrage of data releases from both nations, hovering around 1.2550 in early Europe on Wednesday. The pair experienced notable volatility in the previous session, driven by the UK employment data and the US inflation report.
USD/JPY
The USD/JPY pair is facing a downward shift, now trading at the 145.55 level. This movement comes as market participants digest the implications of the US Consumer Price Index (CPI) data which confirmed another monthly deceleration.
AUD/USD
The AUD/USD pair trades in negative territory for the fourth consecutive day around the mid-0.6500s during the early Asian session on Wednesday. The pair faces a rejection after reaching the 0.6600 mark amid modest US Dollar (USD) strength. The Federal Reserve will announce the interest rate decision on Wednesday, with no change in rates expected. The pair currently trades near 0.6558, down 0.02% on the day.
NZD/USD
The NZD/USD pair faces some selling pressure during the early European session on Wednesday. The pair hit intraday lows at 0.6093 after retracing from the high of 0.6139. The pair currently trades near 0.6097, down 0.54% on the day.
USD/CAD
The USD/CAD pair trades with a positive bias for the second successive day on Wednesday, albeit lacks bullish conviction and remains below a multi-day peak, around the 1.3615-1.3620 region touched the previous day. Spot prices currently trade around the 1.3600 round figure as traders keenly await the outcome of the highly-anticipated two-day FOMC monetary policy meeting.
USD/CHF
USD/CHF hovers around 0.8770 during the Asian trading hours on Tuesday, extending its losses for the second consecutive day ahead of US Consumer Price Index (CPI) data. The US Dollar Index (DXY) loses ground on downbeat US Treasury yields. The DXY moves below 104.00, with yields on 2-year and 10-year US bond coupons standing lower at 4.70% and 4.21%, respectively, by the press time.
CRUDE OIL
Oil prices consolidated losses on Wednesday in Asian trade, after falling by more than 3% to six-month lows in the previous session on oversupply and demand concerns.
GOLD
Gold is challenging bullish commitments early Wednesday, sitting near the lowest level in three weeks of $1,976. XAU/USD price is taking it easy following a good two-way business seen on the United States CPI data release, as the focus now shifts toward the US Federal Reserve policy announcements for a fresh trading impetus.
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