Market news
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Fed Expected to Hold Rates, September Hike on the Table
Markets expect the Federal Reserve to keep interest rates unchanged at this meeting, while pricing in a strong chance of a hike in September.
Hawkish Fed Hold to Support US Dollar, Says MUFG
MUFG's Lloyd Chan expects the FOMC to keep rates unchanged with a hawkish tone, stressing inflation risks, which could support the greenback.
Euro edges higher vs dollar ahead of Fed decision
EUR/USD rose to around 1.1393 in European trade on Wednesday, supported by a softer dollar as markets await the Federal Reserve's policy announcement.
Fed and Energy Drivers Outweigh BoJ for Yen, ING Says
ING analysts expect the Bank of Japan to hold rates at 1.00% on July 31, but see little chance of a hawkish shift boosting the yen or altering USD/JPY, as Fed policy and energy prices dominate.
Won Hits Four-Month High Despite KOSPI Selloff
The South Korean won extended gains for a second day against the dollar, on track for a 6.5% monthly rally, as strong economic data and tightening bets overshadowed equity weakness.
Softer Fed signals could lift euro, says Commerzbank
Commerzbank analyst Antje Praefcke sees potential for a stronger euro if the Federal Reserve signals a less aggressive stance, despite expectations of a hawkish hold.
Plus500 to power US futures trading for Canada's Wealthsimple
Plus500 will supply institutional-grade clearing, order routing and risk management to Wealthsimple, enabling Canadian retail investors to trade US futures for the first time.
AUD/USD Drops to Two-Week Low After Soft Australian CPI Data
The Australian dollar fell for a third consecutive session, breaking below support after consumer inflation data missed expectations.
Indonesian Rupiah Strengthens as Fed Uncertainty Drags on US Dollar
USD/IDR fell to around 18,120 on Wednesday, reversing a two-day gain as the greenback came under pressure before the Federal Reserve's policy update.
IRGC Confirms Missile Strike on US Base in Jordan
Iran's Islamic Revolutionary Guard Corps said it fired ballistic missiles at a US air base and CENTCOM center, escalating tensions.
Indian Rupee Snaps Three-Day Winning Streak as Oil Prices Rebound
The Indian rupee weakened against the US dollar on Wednesday, ending a three-day rally, as geopolitical tensions drove oil prices higher. USD/INR rebounded to near 95.85.
NZD/USD Flat Below 0.5900 as Traders Await Fed Decision
The New Zealand dollar traded little changed against the greenback on Wednesday, unable to gather momentum above 0.5900 as market participants paused ahead of the FOMC meeting.
Gold Steadies Above $4,000 After Hitting One-Week Low; FOMC in Focus
Spot gold consolidates near a two-week low, holding above the $4,000 mark as a softer dollar lends support. Traders are focused on the upcoming FOMC decision.
GBP/USD Edges Higher as Dollar Wavers Before Fed Decision
GBP/USD advanced to around 1.3300 during Asian trading on Wednesday, gaining as the US dollar struggled ahead of the Federal Reserve's upcoming policy announcement.
EUR/USD May Trade in 1.1350-1.1420 Range Ahead of FOMC
The Euro is seen trading between 1.1350 and 1.1420 as the Dollar Index holds steady near 100.70-101.50 before tonight's FOMC decision.
Gold Edges Up from Six-Day Low as Fed Decision Looms
Gold is attempting a modest recovery from a six-day trough near $4,000 in Asian trading on Wednesday, with markets focused squarely on the upcoming Federal Reserve policy announcement.
EUR/JPY targets 187.00 resistance within rising wedge
EUR/JPY holds a bullish near-term bias above key moving averages, with the rising wedge top at 187.00 as the next upside target.
Silver Price Gains 1.14% Near $57.80 Despite Oil Rebound, Fed in Focus
XAG/USD rose 1.14% to around $57.80 in Asian trade on Wednesday, shrugging off a strong rebound in oil prices driven by renewed US conflicts. Traders now await the Federal Reserve’s policy decision.
Canadian Dollar Holds Gains as Markets Brace for Fed Decision
USD/CAD consolidates around 1.4100 in Asian trade, with the Canadian dollar holding recent gains as traders turn cautious ahead of the FOMC policy announcement.
DXY Holds Below 101.50 as Markets Brace for FOMC Decision
The US Dollar Index is trading flat below 101.50 in Asia, with traders on edge ahead of the Federal Reserve's two-day policy meeting amid rising Iran-related risks.
Australian Dollar Slides to One-Week Low Against Yen on Soft CPI
The Australian dollar fell to its lowest level in a week against the Japanese yen as softer-than-expected consumer price inflation data triggered heavy selling pressure on the AUD/JPY cross.
AUD/USD Extends Decline as Soft Inflation Data Dents Rate Hike Bets
The Australian dollar fell for a second straight day, slipping to around 0.6970, after softer domestic CPI data tempered expectations for further rate increases.
Australia's CPI Inflation Eases to 3.8% in June, Misses 4% Forecast
Australia's annual CPI inflation rate fell to 3.8% in June from 4.0% in May, coming in below the expected 4.0%. The softer print may reduce pressure on the Reserve Bank of Australia to tighten further.
Japanese Yen Holds Steady as Oil Prices Climb, USD/JPY Near 163.70
The Japanese yen remained resilient against a rising US dollar despite higher oil prices, with USD/JPY trading around 163.70 in early Asian trading on Wednesday.