Trading news

United States (US) Treasury Yields have hit a pause after posting a fresh multi-year high on Tuesday ahead of the Federal Reserve’s (Fed) monetary policy announcement later in the day.

NZD/USD extends its losses for the third consecutive day, trading around 0.5750 during Asian hours on Wednesday.

The AUD/USD pair declines to around 0.7120 during Asian trading hours on Wednesday. Expectations of a US interest rate hike provide some support to the US Dollar (USD) and act as a headwind for the pair. Traders brace for the US Federal Reserve (Fed) interest rate decision later on Wednesday. 

The People’s Bank of China (PBOC) Governor Pan Gongsheng said on Wednesday that the Chinese central bank will rely less on loan growth targets and more on interest rate tools to guide policy.

Silver (XAG/USD) struggles to capitalize on the previous day's modest gains and fails to break above the $64.00 round figure during the Asian session on Wednesday.

EUR/JPY gains ground for the third successive day, trading around 179.10 during Asian hours on Wednesday. Technical analysis of the daily chart shows the currency cross trading within a descending channel, keeping the overall bias bearish.

The United Kingdom (UK) Office for National Statistics (ONS) will publish the highly anticipated Consumer Price Index (CPI) data for August on Wednesday at 06:00 GMT.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is continuing its winning streak for the sixth consecutive day and trading around 99.70 during Asian hours on Wednesday.

The EUR/USD pair sticks to a negative bias for the fifth straight day and trades around the 1.1535-1.1530 area during the Asian session on Wednesday.

The GBP/USD pair loses ground to near 1.3470 during the early Asian trading hours on Wednesday. The US Dollar (USD) strengthens against the British Pound (GBP) on expectations of a US interest rate hike.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7628 compared to the previous day's fix of 6.7670 and 6.7148euters estimate.

The USD/CAD pair retains its positive bias for the sixth straight day, trading near the 1.3930 area, a two-week high during the Asian session on Wednesday amid a bullish US Dollar (USD).

West Texas Intermediate (WTI) oil price declines after two days of gains, trading around $100.50 per barrel during Asian hours on Wednesday. However, crude oil prices may rebound, driven by a series of broadening supply disruptions across the Middle East.

The Saudi-led coalition said that Saudi air defenses intercepted and destroyed a drone launched by Yemen’s Houthi group near Mecca, Reuters reported on Tuesday.

The USD/JPY pair holds steady near 155.25 during the early Asian session on Wednesday. Traders prefer to wait on the sidelines ahead of the US Federal Reserve (Fed) interest rate decision later on Wednesday. On Friday, attention will shift to the Bank of Japan (BoJ) interest rate decision. 

Gold price (XAU/USD) declines to near $4,285 during the early Asian session on Wednesday.

The Aussie Dollar loses 0.11% against the Greenback on Tuesday as risk appetite remains negative amid calls from AI company CEOs to slow development, while the FOMC monetary policy meeting looms. Expectations for a Fed rate hike undermine the AUD/USD, which trades at 0.7130.

EUR/USD closed Tuesday near 1.1540, down 0.1%. It fell on the day the European Central Bank (ECB) raised its deposit rate to 2.50% and in each of the three sessions since.