Market news
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EUR/USD Holds Bullish Bias Above 1.1550
EUR/USD is trading in positive territory near 1.1585 in early European hours, with the bullish outlook intact after the German ZEW survey beat expectations.
USD/CHF Softens Toward 0.8120 as Fed Hike Bets Fade
USD/CHF is trading around 0.8120 in Asian hours Wednesday, giving back the prior day's modest gains as fading US rate hike expectations weigh on the dollar.
WTI Crude Holds Near Three-Week High Below $85 as Bulls Watch 100-SMA
West Texas Intermediate crude traded near a three-week high but remained below the $85.00 mark in Asian hours Wednesday, with bulls watching for a break above the 100-period simple moving average.
Silver Elliott Wave Count Points to Higher Extension
A short-term Elliott Wave view sees Silver (XAGUSD) advancing impulsively from the July 17 low, with a higher extension still expected.
EUR/JPY Softens Near 184.50 as Mildly Bearish Bias Persists
EUR/JPY is trading around 184.60 in early European hours, with the yen supported by hawkish Bank of Japan signals and the cross holding below its 100-day SMA.
Iran Reportedly Weighs US Military Targets in Europe if War Escalates
Iran is considering attacks on US military assets in southeastern Europe and subsea cables near the Strait of Hormuz if the war with Washington escalates, Financial Times reports.
Canadian Dollar Strengthens as Trump Pauses Tariffs and USD Slips Before FOMC Minutes
USD/CAD met fresh supply during Asian trading on Wednesday as the Canadian dollar gained after President Trump paused 50% tariffs, while the US dollar weakened ahead of FOMC minutes.
EUR/USD Steady in 1.1550–1.1600 as FX Markets Mute
Major currencies are stable and lacking direction while the US-Iran conflict intensifies but fails to trigger forex volatility, with EUR/USD holding between 1.1550 and 1.1600.
Gold Rebounds From Weekly Low as Dollar Softens Before FOMC Minutes
Gold recovered from its weekly low reached during Wednesday’s Asian session, climbing back above $4,350 as the U.S. dollar softened ahead of FOMC minutes.
Aussie Dollar Weakens Despite RBA Deputy's Hawkish Inflation Remarks
AUD/USD slips for a second straight session to around 0.7080, even as RBA Deputy Governor Andrew Hauser stresses that inflation remains unacceptably high.
Silver Extends Decline Toward $63 on Energy Supply Worries
XAG/USD slipped 0.5% to near $63.00 in Asian trading on Wednesday, building on Tuesday's losses as energy supply risks kept inflation concerns in focus.
Gold bulls eye $4,400 ahead of Fed minutes
Gold has reversed Tuesday’s sharp pullback and is trading back near the $4,400 level early Wednesday, with traders focused on the upcoming release of the Federal Reserve’s July meeting minutes.
Trump pauses 50% tariffs on Canada for three days
President Donald Trump says he has paused 50% tariffs on Canada for three days after overnight talks with Canadian Prime Minister Mark Carney.
RBA's Hauser Warns More Rate Hikes Possible If Inflation Stays High
Reserve Bank of Australia Deputy Governor Andrew Hauser said inflation is still too high and further rate increases may be needed if price pressures do not ease.
Japanese Yen Strengthens as BoJ Rate Hike Bets Build
USD/JPY slipped toward 159.45 in Asian trading as market expectations increased for another Bank of Japan rate hike.
Trump Pauses 50% Tariffs for Three Days, Says US and Canada Have a Deal
President Trump announced a three-day pause on the 50% tariffs that were set to take effect tomorrow morning and said the US and Canada have a deal.
US Dollar Index Steadies Above 99.50 on Safe-Haven Support
The US Dollar Index is hovering around 99.60 in Asian trading after minor gains the previous day, supported by safe-haven demand.
UK CPI Expected to Hit Four-Month High on Energy Costs
The UK's July CPI report is expected to show inflation rebounding to a four-month high, driven by higher energy bills.
NZD/USD Slides to Weekly Low as Dollar Firms Before FOMC Minutes
NZD/USD extends its pullback from the 0.5925 area and trades near weekly lows as the US dollar holds firm ahead of FOMC Minutes.
Pound Drops Below 1.3550 on Soft UK Jobs Data
GBP/USD slid to around 1.3535 in early Asian trading as weak UK labour figures pressured sterling, with CPI data next in focus.
WTI Extends Gains Toward $85 as US-Iran Tensions Escalate
West Texas Intermediate rose for a fourth consecutive session, trading around $84.80 per barrel in Asian hours as escalating US-Iran tensions supported crude prices.
USD/CAD consolidates near 1.3900 ahead of US tariff deadline and FOMC minutes
The pair is rangebound around 1.3900 in Asian trading after a modest recovery from its weakest since June 3, with markets watching US tariff news and FOMC minutes.
PBOC lowers USD/CNY reference rate to 6.7854
The People's Bank of China set the USD/CNY reference rate at 6.7854 on Wednesday, below the previous fix of 6.7905.
EUR/USD Rises Toward 1.1580 as Fed Hike Bets Fade
The euro traded with mild gains against the dollar in early Asian hours Wednesday after softer US inflation data reduced expectations for tighter Federal Reserve policy.