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USD/CAD climbs to fresh weekly top, closer to mid-1.3800s ahead of FOMC minutes
The USD/CAD pair is seen prolonging this week's goodish recovery move from the 1.3685 area, or its lowest level since October 2024, for the third consecutive day on Wednesday.
EUR/JPY Price Forecast: Breaks below 163.50, support appears near nine-day EMA
EUR/JPY halts its two-day winning streak, trading around 163.30 during the Asian hours on Wednesday. The weakening of a bullish bias appears as the currency cross remains slightly below the lower boundary of the ascending channel, as suggested by the technical analysis of the daily chart.
US Dollar Index (DXY) advances to weekly top around 99.80; lacks bullish conviction
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, gains positive traction for the second consecutive day on Wednesday and moves further away from the monthly low touched earlier this week.
Gold price seems vulnerable below $3,300 amid modest USD strength
Gold price (XAU/USD) struggles to capitalize on a modest Asian session uptick and currently trades just below the $3,300 mark, close to the weekly low touched the previous day.
NZD/USD surges above 0.5950 after RBNZ's policy decision, FOMC Minutes awaited
NZD/USD recovers its recent losses from the previous session, trading around 0.5970 during the Asian hours on Wednesday. The pair appreciates as the New Zealand Dollar (NZD) gains ground following the Reserve Bank of New Zealand's (RBNZ) interest rate decision.
India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Wednesday, according to data compiled by FXStreet.
GBP/USD Price Forecast: Keeps bullish vibe, first upside target emerges above 1.3550
The GBP/USD pair attracts some sellers to around 1.3480 during the Asian trading hours on Wednesday. The Greenback strengthens against the Pound Sterling (GBP) on the economic signs in the United States (US).
EUR/USD falls to near 1.1300 as bond market optimism offsets impact of US-EU easing
EUR/USD continues its losses for the second successive day, trading around 1.1310 during the Asian hours on Wednesday.
RBNZ's Hawkesby: Decision to hold vote on rates was healthy sign, not unusual at turning points
Reserve Bank of New Zealand's (RBNZ) acting Governor Christian Hawkesby explains the decision to lower the Official Cash Rate (OCR) by 25 basis points (bps) to 3.25% at a press conference following the May monetary policy meeting on Wednesday.
Japanese Yen drops to over one-week low against USD; downside seems limited
The Japanese Yen (JPY) slides to a one-week low against its American counterpart during the Asian session on Wednesday, though the intraday downtick lacks follow-through.
Silver Price Forecast: XAG/USD posts gains near $33.50 after losing over half a percent
Silver price (XAG/USD) recovers its recent losses registered in the previous session, trading around $33.30 per troy ounce during the Asian hours on Wednesday. However, the precious metals, including Silver, faced selling pressure amid a strengthening US Dollar (USD).
NZD/USD holds positive ground above 0.5950 after RBNZ cuts rate to 3.25%
The NZD/USD pair gains ground to around 0.5965 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) edges higher against the US dollar (USD) after the Reserve Bank of New Zealand (RBNZ) interest rate decision.
Australian Dollar weakens despite steady Monthly Consumer Price Index
The Australian Dollar (AUD) extends its losses against the US Dollar (USD) on Wednesday for the third successive session. The AUD/USD pair loses ground after the release of the Monthly Consumer Price Index (CPI).
USD/INR weakens ahead of FOMC Minutes
The Indian Rupee (INR) strengthens on Wednesday. Concerns over US trade and fiscal policies undermine the US Dollar (USD). Additionally, a decline in Crude oil prices provides some support to the Indian currency, as India is the world's third-largest oil consumer.
AUD/NZD slides back closer to 1.0800 after RBNZ's widely expected 25 bps rate cut
The AUD/NZD cross attracts some dip-buying near the 1.0815 area during the Asian session on Wednesday, though it lacks follow-through.
Australia's monthly CPI inflation steadies at 2.4% YoY in April vs. 2.3% expected
Australia's monthly Consumer Price Index (CPI) steadied at 2.4% in the year to April, compared to a 2.4% rise seen in March, according to the data published by the Australian Bureau of Statistics (ABS) on Wednesday.
PBOC sets USD/CNY reference rate at 7.1894 vs. 7.1876 previous
On Wednesday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1894 as compared to the previous day's fix of 7.1876 and 7.1996 Reuters estimate.
Japan's Kato says will closely monitor bond market situations
Japan's Finance Minister Shunichi Kato said on Wednesday that he will closely monitor bond market situations as he is concerned about a recent spike yields in Japan.
BoJ's Ueda: Tariff negotiations mean outlook remains uncertain
Bank of Japan Governor Kazuo Ueda said on Tuesday that many tariff negotiations, including those between the United States and Japan, are still ongoing, so the outlook remains uncertain. Ueda further states that the central bank will closely monitor the incoming data.
Fed's Williams says wants to avoid inflation becoming highly persistent
Federal Reserve Bank of New York President John Williams said on Wednesday that he wants to avoid inflation becoming highly persistent because that could become permanent.
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