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NZD/USD tumbles below 0.5650 on RBNZ rate cut bets
The NZD/USD pair remains on the defensive near 0.5630 during the early European session on Wednesday. Expectations of an imminent interest rate cut from the Reserve Bank of New Zealand (RBNZ) exert some selling pressure on the New Zealand Dollar (NZD) against the Greenback.

GBP/JPY corrects to near 204.00 as Yen outperforms, UK CPI data awaited
The GBP/JPY pair retraces to near 204.00 in the Asian trading session on Wednesday after revisiting an almost six-week high around 204.80 the previous day. The pair faces selling pressure as the Japanese Yen (JPY) attracts bids after underperforming its peers in the past few weeks.

USD/INR sees more downside on hopes of US-India trade deal
The Indian Rupee (INR) extends its winning streak against the US Dollar (USD) for the fourth trading day on Wednesday. The USD/INR falls to near 88.60 as the Indian currency remains broadly firm amid growing expectations that the United States (US) and India could announce a trade deal soon.

EUR/CAD climbs above 1.6200 as Oil slips, Euro steadies
EUR/CAD rebounds after three days of losses, trading around 1.6210 during the Asian hours on Tuesday. The currency cross gains ground as the commodity-linked Canadian Dollar (CAD) comes under downward pressure amid lower crude Oil prices.

USD/CHF stands firm near 0.8000; await break through 50-day SMA ahead of FOMC minutes
The USD/CHF pair prolongs its recent recovery from the 0.7880-0.7875 region, or a nearly one-month low touched last week, for the fourth straight day and climbs to an over one-week high during the Asian session on Wednesday.

EUR/JPY softens to near 180.00 on intervention fears
The EUR/JPY cross loses ground to near 180.00 during the early European session on Wednesday. The Japanese Yen (JPY) strengthens against the Euro (EUR) amid speculations that Japanese authorities would step into the market to stem further weakness in the domestic currency.

GBP/USD loses ground below 1.3150 ahead of UK CPI data
GBP/USD remains subdued for the fourth consecutive session, trading around 1.3130 during the Asian hours on Wednesday. Traders await the United Kingdom (UK) Consumer Price Index (CPI), PPI Core Output, and Retail Price Index data for October due later in the day.

EUR/USD stays silent below 1.1600 as Fed rate cut bets recede
EUR/USD moves little after three days of losses, trading around 1.1580 during the Asian hours on Wednesday. The pair may further lose ground as the US Dollar (USD) gains amid declining US Federal Reserve (Fed) rate cut bets for December.

USD/CAD gains near 1.4000 as Oil prices drop, Fed rate cut bets ease
USD/CAD rebounds after registering 0.5% losses in the previous session, trading around 1.4000 during the Asian hours on Wednesday. The pair appreciates as the commodity-linked Canadian Dollar (CAD) comes under downward pressure amid lower crude Oil prices.

Japanese Yen hangs near multi-month low against USD amid fiscal concerns, BoJ uncertainty
The Japanese Yen (JPY) oscillates in a range during the Asian session on Wednesday and remains close to its lowest level since late February, touched against the US Dollar (USD) the previous day.

UK CPI expected to moderate in October, still well above the BoE's target
The United Kingdom (UK) Office for National Statistics (ONS) publishes the highly relevant Consumer Price Index (CPI) data for October on Wednesday at 07:00 GMT. The market consensus anticipates some moderation of inflationary pressures.

US Dollar Index posts modest gains above 99.50 ahead of FOMC Minutes
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades with mild gains around 99.60 during the Asian session on Tuesday. Traders might prefer to wait on the sidelines ahead of the FOMC Minutes on Wednesday.

NZD/USD declines below 0.5650 as RBNZ is expected to deliver its final 25 bps rate cut
The NZD/USD pair trades in negative territory near 0.5645 during the early Asian session on Wednesday. The New Zealand Dollar (NZD) weakens against the Greenback amid the imminent rate cut from the Reserve Bank of New Zealand (RBNZ). Traders will keep an eye on the FOMC Minutes later on Wednesday.

Australian Dollar holds losses following Q3 Wage Price Index data
The Australian Dollar (AUD) declines against the US Dollar (USD) on Wednesday after registering more than 0.25% gains in the previous session. The AUD/USD pair remains subdued after the release of medium-impact Wage Price Index data for the third quarter.

PBOC sets USD/CNY reference rate 7.0872 at vs. 7.0856 previous
On Wednesday, the People's Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 7.0872 compared to the previous day's fix of 7.0856 and 7.1121 Reuters estimate.

GBP/USD continues to tread water ahead of UK CPI release
GBP/USD remains trapped in a rough near-term consolidation zone, with Cable bids cycling the 1.3150 region. The pair has run out of steam after catching a slight bounce from seven-month lows, and the Pound Sterling (GBP) remains functionally unchanged in November.

USD/JPY extends the rally to near 155.50, FOMC Minutes in focus
The USD/JPY pair extends its upside to a fresh nine-and-a-half-month high near 155.50 during the early Asian session on Wednesday. The uptick of the pair is bolstered by worries about Japan's fiscal stance and awaited US data for signals on the Federal Reserve's (Fed) next move.

AUD/JPY Price Forecast: Rebounds towards 101.50, bulls target yearly high
The AUD/JPY recovers after posting losses of 0.17% on Monday, rises 0.39% after the cross-pair tested the 20-day Simple Moving Average (SMA) at 100.45. At the time of writing, the Aussie pair trades at 101.26 up 0.05%, as Wednesday's Asian session kicks in.

EUR/USD cracks below 1.1600 as fear trade lifts Dollar ahead of NFP
EUR/USD turns negative on the day and drops below 1.1600 for the second straight day on risk-off mood as investors wait for NVIDIA earnings, and digest US labor market data, orders ahead of Thursday's Nonfarm Payrolls report. The pair trades at 1.1586, down 0.04%.

Canadian Dollar rebounds on fresh Crude Oil strength
The Canadian Dollar (CAD) found a fresh foothold on Tuesday, climbing around one-half of one percent against the US Dollar (USD). Crude Oil prices are on the rise in the front half of the week, providing some much-needed support for the otherwise underperforming Loonie.
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