Select Language

FX Today: The FOMC Minutes takes centre stage

Breaking news

FX Today: The FOMC Minutes takes centre stage

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.10.08 03:23
FX Today: The FOMC Minutes takes centre stage

update 2025.10.08 03:23

The US Dollar (USD) extended its weekly recovery, advancing to new two-week highs in a context domintaed by the risk-off sentiment. Meanwhile, there was no news regarding negotiations to end the ongoing US government shutdown.

Here's what to watch on Wednesday, October 8:

The US Dollar Index (DXY) added to Monday's gains and surpassed the 98.50 level, hitting fresh two-week highs despite US Treasury yields edging lower. The FOMC Minutes will be the salient event, followed by the usual MBA Mortgage Applications and the EIA's weekly report on US crude oil inventories. In addition, the Fed's Musalem, Barr, and Kashkari are due to speak.

EUR/USD kept its offered stance for the second day in a row, revisiting the lower end of its recent range near the 1.1650 region. Germany's Industrial Production is due. Additionally, the ECB's Buch, Elderson, and Lagarde are all due to speak.

GBP/USD set aside two daily advances in a row and faced renewed selling pressure in the low-1.3400s. The BoE's Pill is expected to speak in an otherwise empty UK docket.

USD/JPY extended its sharp uptick and clinched fresh eight-month tops well north of the 151.00 barrier. The Average Cash Earnings will be released on the Japanese calendar, seconded by the Current Account results, Bank Lending figures, and the Eco Watchers Survey.

AUD/USD left behind two consecutive daily gains and traded with marked losses, revisiting the sub-0.6600 region. Building Permits and Private House Approvals are next on tap in Oz.

WTI prices surrendered part of their recent advance, briefly breaking below the $61.00 mark per barrel as traders continued to evaluate the smaller-than-expected output hike by the OPEC+.

Gold rose to an all-time high just past the $3,990 mark per troy ounce on Tuesday, always propped by the prospects of Fed rate cuts and the generalised risk-off sentiment in the global markets. Silver prices gave away some gains, breaking below the key support at $48.00 mark per ounce.


Date

Created

 : 2025.10.08

Update

Last updated

 : 2025.10.08

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

USD/CAD extends losses as weak US Consumer Confidence weighs, BoC and Fed eyed

The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Tuesday as the Greenback weakens following the latest US Consumer Confidence report. At the time of writing, USD/CAD is trading around 1.3944, extending losses for the second consecutive day and down roughly 0.30%.
New
update2025.10.29 00:32

USD/CHF declines for fourth day as Swiss Franc gains, Fed rate cut expected

USD/CHF trades lower on Tuesday, around 0.7930 at the time of writing, down 0.27% for the day. The pair extends its four-day losing streak as the Swiss Franc (CHF) strengthens amid fading expectations of further monetary easing by the Swiss National Bank (SNB).
New
update2025.10.29 00:13

GBP/USD sinks below 1.33 as UK fiscal woes deepen ahead of budget

The GBP/USD dives more than 0.50% on Tuesday as market participants digested news of the UK's Office for Budget Responsibility (OBR), which plan to cut productivity, leading to a huge hole in the public finances. The pair tumbled below 1.3300 for the first time since mid-October.
New
update2025.10.29 00:07

GBP underperforms versus USD - Scotiabank

Pound Sterling (GBP) is a moderate underperformer on the session so far, falling 0.1% against the US Dollar (USD) at writing after giving up early gains through the upper 1.33s in Asian trade.
New
update2025.10.28 23:24

EUR grinds cautiously higher for fifth day - Scotiabank

The Euro (EUR) is grinding slowly but surely higher, with the support of short-term spreads which are maintaining the recent compression in EZ/US short-term yields, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.10.28 23:23

CAD is little changed on the day - Scotiabank

Spot is little changed.
New
update2025.10.28 23:21

USD mixed to marginally lower - Scotiabank

The US Dollar (USD) is mixed but tracking a little lower overall as the Dollar Index (DXY) continues to drift back from the 99 zone where the index appears to have peaked after its latest run higher, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.10.28 23:19

GBP/JPY slips to one-week low as Yen firms on intervention risk and trade optimism

The British Pound (GBP) fell sharply against the Japanese Yen (JPY) on Tuesday as the Yen strengthened across major peers, recovering from recent weakness tied to Japan's political and fiscal developments.
New
update2025.10.28 23:09

EUR/JPY weakens as Yen rises on US-Japan deal, ECB and BoJ meetings eyed

EUR/JPY weakens on Tuesday, falling 0.50% for the day to around 177.10 at the time of writing, after hitting a multi-year high at 178.23 the previous day, and halting a five-day winning streak.
New
update2025.10.28 22:59

EUR/GBP hits multi-year highs past 0.8760 amid generalised Pound weakness

The Euro accelerated its rally against a weaker British Pound on Tuesday to reach its highest level in two years, and is about to break the November 2023 high at 0.8765 at the time of writing.
New
update2025.10.28 21:45

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel