Market news
Crypto, stocks, forex and macro, aggregated for traders.
EUR/GBP Flatlines Near 0.8625 Ahead of ECB Rate Decision
The EUR/GBP cross is trading flat near 0.8625 in early European trading on Wednesday as traders await the European Central Bank's interest rate decision.
Gold Staggers Near $4,217 as Real Yield Inflection Point Looms Ahead of US CPI
Gold (XAU/USD) staged a modest recovery to $4,216 after printing lows near $4,171 early Wednesday, but the bounce remains shallow and unconvincing amid rising real yields ahead of the US CPI release.
USD/JPY Range-Bound Intraday, Yen Weakens Toward 160.75 – UOB
UOB analysts note USD/JPY is range-bound between 159.90 and 160.40 intraday after a brief spike and reversal, while maintaining a slightly positive multi-day outlook as the yen gradually weakens toward 160.75.
Silver Finds Temporary Support Near $63.50, Downside Risk Persists
Silver (XAG/USD) rebounded to near $65.00 after hitting a two-month low of $63.45, but analysts warn the downside bias remains intact.
Bank Indonesia Hikes 25bp to 5.50% in Surprise Move to Support IDR
Bank Indonesia delivered an off-cycle 25 basis point rate hike to 5.50%, reinforcing its commitment to stabilize the Indonesian rupiah through higher rates and FX measures, according to Commerzbank.
Canadian Dollar Holds Near Lows Ahead of US CPI, BoC Decision
The Canadian Dollar edged up against the US Dollar on Wednesday, with USD/CAD trading near 1.3940 after hitting year-to-date highs at 1.3969. Markets await US CPI data and the Bank of Canada's monetary policy decision.
GBP/USD Rises to Near 1.3400 Ahead of US CPI Release
The British Pound gained ground against the US Dollar, trading around 1.3390 during early European hours on Wednesday. Markets are turning cautious as the US May Consumer Price Index report is due later today.
USD/CNH Downside Risk Below 6.7500 as Yuan Strengthens
USD/CNH edged lower to near 6.7750 in early European trading Wednesday, pressured by the Chinese yuan’s continued strength supported by a trade surplus. Analysts see further downside potential below the 6.7500 level.
Japanese Yen Stays Weak Despite Wholesale Inflation Surge in May
The Japanese Yen remains under pressure against the US dollar even after a sharp acceleration in wholesale inflation for May, keeping USD/JPY near the 160.40 level.
BoJ Expected to Raise Rate to 1.0% in June, Poll Shows
A Reuters poll indicates roughly two-thirds of economists anticipate the Bank of Japan will hike its policy rate to 1.50% by Q2 next year, an earlier-than-previously-expected timeline.
EUR/USD Eyes 1.16-1.17 as Dollar Weakness Expected
EUR/USD has scope to test 1.1600-1.1700 while above 1.1500, as the Dollar index may dip to 99.5-99. Meanwhile, EUR/INR is bearish below 111, EUR/JPY could test 186 above 185, USD/JPY remains in a slow uptrend, and USD/CNY is bearish toward 6.76/75.
EUR/JPY Holds Above 185.00 on ECB Rate Hike Expectations
The EUR/JPY cross strengthened to near 185.20 in early European trading on Wednesday, supported by expectations that the ECB will raise rates at its June policy meeting.
AUD/USD Consolidates Above 0.7000, Bearish Potential Intact
AUD/USD trades in a narrow range during the Asian session after mixed Australian inflation data, with bearish potential still intact as it hovers above the 0.7000 two-month low.
Gold Plummets Below $4,200 on US-Iran Tensions, Hawkish Rate Bets
Gold extends losses below the 200-day SMA, hitting a fresh low since March 23 as rising geopolitical tensions and hawkish rate expectations ahead of US CPI weigh on the precious metal.
EUR/USD Trades Flat Near 1.1545 Ahead of US CPI Data
The EUR/USD pair is trading in a tight range around 1.1545 during the Asian session on Wednesday, as the dollar steadies before the release of US May CPI data at 12:30 GMT.
USD/CHF Gains for Fourth Day as Safe-Haven Demand Boosts Dollar
USD/CHF extended its gains for the fourth consecutive session, trading around 0.7990 during Asian hours on Wednesday, as renewed Middle East concerns bolster safe-haven demand for the US Dollar.
US Dollar Index Holds Near 100.00 as Middle East Tensions Rise
The US Dollar Index (DXY) is trading near the 100.00 mark during Asian hours, supported by rising Middle East tensions.
Silver Bears Retain Control Near March Lows Below $64.50
Silver (XAG/USD) extended its decline for a second consecutive day, dropping to its lowest since March 23 as sellers remain firmly in control below the $64.50 level.
GBP/USD Consolidates Below 1.3400 as Iran Tensions Mount, US CPI in Focus
The British pound is hovering in a narrow band just below 1.3400 against the U.S. dollar, unable to extend a two-day recovery from a three-week low amid renewed geopolitical risks and anticipation of U.S. inflation data.
NZD/USD Steady as Market Awaits US CPI Data
The NZD/USD pair holds near 0.7030 after mixed Chinese inflation figures, with traders eyeing the upcoming US CPI report.
China May CPI Misses Expectations at 1.2%
China's consumer price index rose 1.2% year-on-year in May, matching April's pace but below the 1.3% market forecast, according to the National Bureau of Statistics. The data may have implications for the Australian dollar.
Yen Lingers Near One-Month Low on USD/JPY Despite Strong PPI
USD/JPY consolidates in Asian session after Japan's stronger-than-expected Producer Price Index, but geopolitical tensions in the Middle East keep the Yen under pressure near a one-month low.
PBOC Sets USD/CNY Reference Rate at 6.8130
The People's Bank of China fixed the USD/CNY central parity rate at 6.8130 for Wednesday, slightly lower than the previous day's 6.8147.
AUD/USD Extends Losses as Traders Await China CPI Data
The Australian dollar continued its decline against the US dollar on Wednesday, trading near 0.7020 as market participants look ahead to China's consumer and producer price data for May.