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17:30 United States EIA Crude Oil Stocks Change registered at -2.392M, below expectations (-2M) in August 22
United States EIA Crude Oil Stocks Change registered at -2.392M, below expectations (-2M) in August 22

17:23 EUR/USD slips below 1.1600 as Greenback holds firm despite Trump-Fed tensions
The Euro (EUR) came under renewed pressure against the US Dollar (USD) on Wednesday as a stronger Greenback, soft German Consumer Confidence data, and escalating political tensions in France weighed on the single currency, with EUR/USD slipping below the key 1.1600 psychological mark.

16:07 EUR/JPY rangebound as focus turns to Eurozone sentiment and Japan CPI
The Euro (EUR) recovers some lost ground against the Japanese Yen (JPY) on Wednesday, with EUR/JPY trading near 171.76 at the time of writing. The cross had slipped to a one-week low earlier in the day after disappointing German Consumer Confidence data briefly pressured the single currency.

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The cross had slipped to a one-week low earlier in the day after disappointing German Consumer Confidence data briefly pressured the single currency.The GfK Consumer Confidence Survey for September dropped to –23.6, undershooting expectations of –21.5 and below the prior –21.7. The report highlighted persistent weakness in household spending power and reinforced concerns about the Eurozone’s fragile economy, as rising fears of job losses weighed on purchase decisions and dampened hopes of a robust recovery.Details of the survey showed that income expectations had fallen sharply to their weakest level since March, while both the economic outlook and willingness to buy had declined to multi-month lows. According to GfK analyst Rolf Bürkl, sentiment is “definitely in the summer slump,” with consumers increasingly hesitant to make major purchases amid job insecurity and lingering inflation concerns.Technically, EUR/JPY remains confined between 171.00 and 173.00, a corridor that has capped price action since early August. The consolidation reflects investor hesitation ahead of key macro events.Looking ahead, Thursday brings the release of Eurozone sentiment indicators for August, including measures of business and consumer confidence, alongside the European Central Bank (ECB) monetary policy accounts (minutes), which could shape expectations for the central bank’s next steps.On Friday, attention shifts to Japan, where a busy data calendar includes Tokyo Consumer Price Index (CPI), Unemployment Rate, Industrial Production, and Retail Sales. These reports will provide crucial signals on the strength of Japan’s economy and could shape expectations for the Bank of Japan’s (BoJ) monetary policy outlook, particularly as markets assess how rising prices and labor market trends might influence the central bank’s stance. Economic Indicator ECB Monetary Policy Meeting Accounts ECB Monetary Policy Meeting Accounts contain an overview of financial market, economic and monetary developments. It's followed by a summary of the discussion, in an unattributed form, on the economic and monetary analyses and on the monetary policy stance. The accounts offer a fair and balanced reflection of policy deliberations. The aim is to provide the rationale behind monetary policy decisions and enable members of the public to improve their understanding of the Governing Council’s assessment of the economy and its policy responses in the light of evolving conditions. Read more. Next release: Thu Aug 28, 2025 11:30 Frequency: Irregular Consensus: - Previous: - Source:

15:49 Fed’s Williams: Economy is going through an adjustment process
In an interview with CNBC on Wednesday, Federal Reserve Bank of New York President John Williams said that he expects the Gross Domestic Product growth will continue to slow, per Reuters.

15:23 Gold slips from two-week peak as US Dollar firms, Fed turmoil in focus
Gold (XAU/USD) is trading on the back foot on Wednesday as the US Dollar (USD) regains strength and edges higher, despite political turmoil surrounding US President Donald Trump’s attempt to oust Federal Reserve (Fed) Governor Lisa Cook.

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At the time of writing, XAU/USD is holding near $3,380 at the start of the American session, after briefly slipping to around $3,373 during Asian hours. The move reflects modest profit-taking after climbing to a fresh two-week high. Still, the downside remains cushioned as markets weigh the uncertainty over the Fed’s independence and the dovish tilt in Fed Chair Jerome Powell’s remarks at Jackson Hole, where he hinted that conditions “may warrant” interest rate cuts in the near term.Amid growing pressure on the central bank, Trump’s push to remove Fed Governor Lisa Cook appears less about disputed mortgage-fraud allegations and more about reshaping monetary policy to suit his political objectives. On Tuesday, he declared that he expects to soon command a “majority” on the Fed’s Board of Governors, a shift that could tilt the institution toward more aggressive rate cuts. Cook, however, has refused to resign and is preparing to challenge the move in court, setting up a legal battle that could test the limits of presidential power over the Fed.Market movers: US Dollar edges higher, yields diverge, Fed independence under spotlightThe US Dollar Index (DXY), which measures the value of the Greenback against a basket of six major currencies, is advancing on Wednesday after a minor setback the previous day. At the time of writing, the index is hovering near 98.65, reclaiming lost ground and signaling renewed US Dollar strength.US Treasury yields are showing a mixed picture on Wednesday. The 2-year yield plunged to 3.66%, its lowest since early May, as markets price in higher odds of near-term Fed interest rate cuts. The 10-year yield steadies, hovering around 4.27% after coming under pressure from renewed concerns over the Fed’s independence. Meanwhile, the 30-year yield remains elevated near 4.92%, reflecting lingering inflation worries and broader caution over the long-term policy outlook. The Federal Reserve, for its part, has pushed back firmly, stating that Governor Cook’s status remains unchanged unless a court rules otherwise. In a statement, the central bank underscored that governors serve fixed 14-year terms and can only be removed “for cause,” describing tenure protections as a vital safeguard for monetary policy independence. With Cook vowing to sue and the Fed standing its ground, markets now face the prospect of a prolonged legal and political standoff. For Gold, this tug-of-war reinforces its safe-haven appeal, as investors hedge against both institutional uncertainty and the risk of deeper political interference in the monetary policy. According to CNBC, Cook’s lawsuit could be filed as soon as this Wednesday.On the trade front, US tariffs on Indian imports doubled to 50% on Wednesday after a new 25% levy took effect, targeting a wide range of goods — from textiles and footwear to jewelry and chemicals. The move, aimed at pressuring New Delhi over its continued purchases of discounted Russian Oil, puts nearly half of India’s $87 billion in annual exports to the US at a sharp competitive disadvantage.The European Union (EU) is preparing to propose removing tariffs on US industrial goods this week to meet US President Trump’s demands, according to Bloomberg. In return, Washington is expected to lower auto tariffs on EU vehicles from 27.5% to 15%, potentially backdated to August 1. The proposal would also expand access for American seafood and agricultural goods, aiming to ease escalating trade tensions between the two economies.On the economic data front, US releases painted a mixed picture on Tuesday. Durable Goods Orders fell 2.8% in July on weaker aircraft bookings, but Durable Goods Orders ex Transportation rose 1.1%, showing underlying resilience. Meanwhile, the Conference Board’s Consumer Confidence Index slipped to 97.4 in August from 98.7, with the expectations gauge dropping below the 80 threshold that often signals recession risks.Wednesday’s calendar is relatively light, keeping markets in a consolidative mood. Traders are looking ahead to Thursday’s weekly US Initial Jobless Claims for fresh signals on the labor market, followed by Friday’s US core Personal Consumption Expenditure (PCE) inflation report — the Fed’s preferred gauge — which is expected to be the week’s key event risk.Technical analysis: XAU/USD slips from two-week peak, bullish structure intactXAU/USD is edging lower on Wednesday after hitting a fresh two-week high at $3,394, with buyers seen unwinding long positions ahead of the key $3,400 psychological barrier. The retreat reflects mild profit booking, as sellers re-emerged near resistance to cap further upside momentum.On the downside, immediate support is aligned between the 21-period Simple Moving Average (SMA) at $3,370 and the 100-period SMA at $3,358, making this confluence zone around $3,370-$3,350 a crucial floor for near-term price action. As long as Gold holds above this area, the broader bullish structure remains intact. However, a decisive break lower would expose the $3,340 level, followed by the next support at $3,320.Momentum indicators remain constructive but show signs of moderation. The Relative Strength Index (RSI) has eased to 55, slipping from near overbought territory, while the Moving Average Convergence Divergence (MACD) still trades above the signal line but with narrowing histogram bars, signaling fading upside momentum. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

15:00 Mexico Trade Balance s/a, $ dipped from previous $0.595B to $0.296B in July
Mexico Trade Balance s/a, $ dipped from previous $0.595B to $0.296B in July

15:00 Mexico Trade Balance, $ came in at $-0.017B below forecasts ($0.38B) in July
Mexico Trade Balance, $ came in at $-0.017B below forecasts ($0.38B) in July

14:54 USD/CNH: Unlikely to threaten the major support at 7.1435 – UOB Group
US Dollar (USD) could edge lower but is unlikely to threaten the major support at 7.1435. In the longer run, rapidly increasing downward momentum indicates USD could drop below 7.1435; it is unclear now if 7.1290 is within reach, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

US Dollar (USD) could edge lower but is unlikely to threaten the major support at 7.1435. In the longer run, rapidly increasing downward momentum indicates USD could drop below 7.1435; it is unclear now if 7.1290 is within reach, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.Downward momentum indicates USD can at least 7.143524-HOUR VIEW: "Our view that USD 'could drop below July’s low of 7.1435' yesterday was incorrect. USD dropped briefly to 7.1473, rebounded strongly to 7.1650, and then eased to close largely unchanged at 7.1535 (-0.06%). Despite the choppy price action, the underlying tone appears soft. Today, we expect USD to edge lower, but given the mild downward pressure, any decline is unlikely to threaten 7.1435. On the upside, resistance levels are at 7.1600 and 7.1650."1-3 WEEKS VIEW: "Our update from yesterday (26 Aug, spot at 7.1580) remains valid. As pointed out, 'the rapidly increasing downward momentum indicates USD could drop below July’s low of 7.1435.' However, currently, it is unclear if the next support at 7.1290 is within reach. We will maintain our negative view as long as 7.1800 (no change in ‘strong resistance’ level) is not breached."

14:48 EUR is underperforming on broadening political uncertainty – Scotiabank
The Euro (EUR) is weak, down 0.5% against the US Dollar (USD) and underperforming the G10 currencies as we head into Wednesday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.

The Euro (EUR) is weak, down 0.5% against the US Dollar (USD) and underperforming the G10 currencies as we head into Wednesday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.EUR is underperforming with news of Dutch no confidence vote"Political uncertainty is in focus as market participants consider the news of a no confidence vote in the Netherlands, compounding existing concerns related to France. There have been no data releases and near-term ECB risk lies with Thursday’s ECB minutes and a scheduled speech from Rehn." "The RSI remains close to neutral, having just broken below the dividing threshold at 50. The fresh local low is notable however, and shifts the focus to the Aug 1 low around 1.14. We remain neutral—for now—looking to a near-term range bound between 1.1550 support 1.1650 resistance."

14:47 WTI Price Forecast: 50-EMA acts as major barrier
West Texas Intermediate (WTI), futures on NYMEX, trade cautiously near Tuesday’s low of $63.00 during the European trading session on Wednesday. The Oil price struggles to gain ground ahead of the United States (US) Oil inventories data for the week ending August 22.

14:46 USD/JPY: Likely to trade in a range between 146.40 and 148.40 – UOB Group
US Dollar (USD) is expected to trade in a range between 147.00 and 148.00. In the longer run, outlook is mixed; USD could trade in a range between 146.40 and 148.40, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

US Dollar (USD) is expected to trade in a range between 147.00 and 148.00. In the longer run, outlook is mixed; USD could trade in a range between 146.40 and 148.40, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.Outlook is mixed for USD/JPY24-HOUR VIEW: "Yesterday, when USD was at 147.55, we noted that 'the price action still appears to be part of a range-trading phase,' and we expected it to 'trade in a range between 146.70 and 148.00.' USD subsequently fluctuated between 146.97 and 147.90, before closing at 147.40 (-0.25%). We are not able to derive much from the price movements. Today, we continue to expect range-trading, most likely between 147.00 and 148.00."1-3 WEEKS VIEW: "Our update from two days ago (25 Aug, spot at 147.35) remains valid. As highlighted, 'The recent sharp price swings, which failed to result in a sustained directional move, have led to a mixed outlook for USD. For the time being, USD could trade in a range between 146.40 and 148.40.”

14:42 CAD outperforming on crosses as spreads offer support – Scotiabank
The Canadian Dollar (CAD) is down a marginal 0.1% against the US Dollar (USD) and outperforming on the crosses, extending its tight post-Jackson Hole range as it maintains its recent gains, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.

The Canadian Dollar (CAD) is down a marginal 0.1% against the US Dollar (USD) and outperforming on the crosses, extending its tight post-Jackson Hole range as it maintains its recent gains, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.USD/CAD’s range has been incredibly narrow"The CAD’s relative outperformance is to be expected, as close economic ties to the US dampen the extent of currency weakness (relative to peers like AUD and NZD). The outlook for relative central bank policy remains supportive and the 2Y US-Canada spread is hitting fresh lows, pushing to 95bpts and reaching levels last seen in October 2024. Our FV estimate for USD/CAD is currently at 1.3650, suggesting a meaningful undervaluation for the CAD at the moment." "The domestic calendar remains limited ahead of Thursday’s Q2 current account figures and Friday’s Q2 GDP. Gov. Macklem’s Tuesday speech offered little in terms of the near-term outlook however we remain CAD bulls and see scope for CAD strength as markets fade their easing bias with September still pricing 9bpts of cuts.""USD/CAD’s range has been incredibly narrow following Friday’s bearish outside reversal. The RSI is close to neutral, offering little in terms of momentum. We continue to look to a near-term range bound between 1.3780 support and 1.3920 resistance."

14:39 NZD/USD Likely to trade between 0.5820 and 0.5920 – UOB Group
The price action provides no fresh clues; New Zealand Dollar (NZD) is expected to range-trade between 0.5835 and 0.5875.

The price action provides no fresh clues; New Zealand Dollar (NZD) is expected to range-trade between 0.5835 and 0.5875. In the longer run, NZD appears to have entered a range-trading phase; for the time being, it is likely to trade between 0.5820 and 0.5920, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.The price action provides no fresh clues24-HOUR VIEW: "When NZD was at 0.5850 in the early Asian session yesterday, we indicated that 'the current price movements appear to be part of a range-trading phase, most likely between 0.5830 and 0.5875.' Our view of range-trading was not wrong, even though NZD traded within a narrower range than expected, between 0.5830 and 0.5867. The price action provides no fresh clues, and we continue to expect NZD to range-trade, most likely between 0.5835 and 0.5875."1-3 WEEKS VIEW: "We continue to hold the same view as Monday (25 Aug, spot at 0.5865). As highlighted, NZD appears to have entered a range-trading phase, and for the time being, it is likely to trade between 0.5820 and 0.5920.”

14:39 EUR/GBP Price Forecast: Under growing bearish pressure towards the 0.8600 area
The Euro is trading lower for the third consecutive day against the British Pound on Wednesday, with bears attempting to break the bottom of an expanding wedge, at 0.8625 aiming for the bottom of the last two months’ trading range, at 0.8595.In the absence of key fundamental drivers, the Euro is on

14:36 USD retraces Jackson Hole losses as markets eye Europe risks – Scotiabank
The US Dollar (USD) is strengthening broadly and meaningfully against all of the G10 currencies as we head into Wednesday’s NA session, making notable gains and hitting fresh local highs against key currencies—most importantly the EUR.

The US Dollar (USD) is strengthening broadly and meaningfully against all of the G10 currencies as we head into Wednesday’s NA session, making notable gains and hitting fresh local highs against key currencies—most importantly the EUR. Political uncertainty in Europe appears to be broadening as the Dutch government faces a no confidence vote ahead of an election scheduled for October, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.USD strengthening broadly and fully retracing post-Jackson Hole losses"French bond markets look to have stabilized somewhat following Tuesday’s announcement of a September 8 confidence vote, however the country’s yields remain elevated as French-German yield spreads continue to widen. Market participants remain focused on Fed developments following President Trump’s attempt at firing BoG member Cook. The Senate Banking Committee is set to hold its nomination hearing for White House economic advisor Stephen Miran next week." "Miran has only been nominated to replace departing BoG member Kugler—whose term ends in January—however Trump suggested Tuesday that Miran could potentially fill Cook’s vacancy, which expires in 2038. The USD has now fully recouped its Jackson Hole-driven losses and the relative performance among the G10 currencies reveals notable overnight weakness in NZD, EUR, and CHF. GBP and MXN are mid-performers with minor declines while the CAD is outperforming on the crosses with marginal weakness vs. the USD. Broader markets are mixed and offering no clear tone as equity futures consolidate within an incredibly tight range just below their recent high." "The US 10Y is quietly consolidating just above 4.25% while the 2Y has dropped to a fresh local low of 3.65%, sending the 2-10 spread to its highest level since the period of bond market turbulence observed in mid/late April. In commodities, oil prices (WTI) are marginally extending Tuesday’s bearish reversal and trading defensively with a continued focus on concerns about oversupply as well as US tariffs on India. Copper is also weak and trading to the lower end of its recent range as gold pulls back to the midpoint of its range from April. Wednesday’s US release calendar is empty, leaving the focus squarely centered on headline risk and Fed developments."

14:32 AUD/USD: Likely to trade in a higher range of 0.6440/0.6540 – UOB Group
Australian Dollar (AUD) is likely to trade in a range of 0.6480/0.6510. In the longer run, slight increase in upward momentum is likely to lead to a higher range of 0.6440/0.6540 rather than a sustained advance, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

Australian Dollar (AUD) is likely to trade in a range of 0.6480/0.6510. In the longer run, slight increase in upward momentum is likely to lead to a higher range of 0.6440/0.6540 rather than a sustained advance, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.Slight increase in upward momentum24-HOUR VIEW: "While we expected 'further range trading' yesterday, we stated that 'the softer underlying tone suggests a lower range of 0.6455/0.6505.' However, AUD traded in a narrower range than expected, dipping to a low of 0.6471 before rebounding to 0.6501. AUD closed slightly higher at 0.6495, up 0.19%. While we continue to expect range-trading, this time around, the firmer underlying tone suggests a higher range of 0.6480/0.6510."1-3 WEEKS VIEW: "Our update from two days ago (25 Aug, spot at 0.6485) still stands. As highlighted, after last Friday’s price movements, 'there has been an increase in upward momentum, but not significantly, and this is likely to lead to a higher range of 0.6440/0.6540 rather than a sustained advance.”

14:27 USD: Risk of facing deeper Fed rate cuts – BBH
US Dollar (USD) is firmer across the board, though it continues to trade within this month’s narrow range. Nevertheless, political interference with the Fed’s independence and a dovish Fed will continue to undermine USD , BBH's FX analysts report.

US Dollar (USD) is firmer across the board, though it continues to trade within this month’s narrow range. Nevertheless, political interference with the Fed’s independence and a dovish Fed will continue to undermine USD , BBH's FX analysts report.Cook might return to work while legal proceedings are ongoing"Fed Governor Lisa Cook's exit from the Fed could ultimately give President Donald Trump greater opportunity to tighten his grip on the central bank by appointing a replacement aligned with his dovish monetary policy agenda. In the meantime, Cook is seeking court approval for her continued right to carry on in her role at the Fed. If it succeeds, she could return to work while legal proceedings are ongoing.""US consumers are more pessimistic about future job availability. The Conference Board Consumer Confidence labor differential index (jobs plentiful minus jobs hard to get) dropped 1.3 points to 9.7 in August, the lowest since February 2021 and indicative of a rapid rise in the unemployment rate. Indeed, Fed Chair Jay Powell warned last week that downside risks to employment are rising.""Risk is the Fed delivers deeper rate cuts than the markets expect. Fed funds futures price-in nearly 90% odds of a 25bps cut at the next September 17 meeting and a total of 50bps of easing by year-end."

14:09 GBP/USD: Unclear if there is enough momentum for it to reach 1.3595 – UOB Group
The current price movements still appear to be part of a range-trading phase, likely between 1.3450 and 1.3505.

The current price movements still appear to be part of a range-trading phase, likely between 1.3450 and 1.3505. In the longer run, further pound Sterling (GBP) strength is not ruled out, but it is unclear if there is enough momentum for it to reach 1.3595, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.There is still a chance for GBP to edge higher24-HOUR VIEW: "Price movements still appear to be part of a range-trading phase GBP pulled back sharply and reached a low of 1.3447 on Monday. Yesterday, Tuesday, we highlighted the following: “Despite the sharp decline, there has been no clear increase in downward momentum, and instead of continuing to weaken, GBP is more likely to trade in a range today, probably between 1.3440 and 1.3520.' GBP subsequently dipped briefly to 1.3435, rebounded to 1.3494, and then closed at 1.3479, up slightly by 0.19%. The current price movements still appear to be part of a range-trading phase. Today, we expect GBP to trade between 1.3450 and 1.3505." 1-3 WEEKS VIEW: "Two days ago (25 Aug, spot at 1.3515), we indicated that 'while further GBP strength is not ruled out, it is currently unclear if there is enough momentum for it to reach 1.3595.' We also indicated that 'if GBP breaks below 1.3425, it would mean that it is likely to trade within a range instead of strengthening.' Although GBP has not been able to make further headway to the upside, as long as 1.3425 holds, there is still a chance for GBP to edge higher."

14:01 The euro zone must put its own house in order – Commerzbank
Yesterday, I wrote that I could hardly imagine a scenario in which the dollar would suddenly appreciate massively and regain its former strength. Nevertheless, we could see a correction in EUR/USD. One that comes from the euro side.

Yesterday, I wrote that I could hardly imagine a scenario in which the dollar would suddenly appreciate massively and regain its former strength. Nevertheless, we could see a correction in EUR/USD. One that comes from the euro side. I don't want to paint a bleak picture, but one issue that I have already addressed could increasingly come to the fore and weigh on the euro: the sustainability of debt in the euro zone, Commerzbank's FX analyst Antje Praefcke notes. US D is currently the focus of attention"The government crisis in France surrounding the essential budget consolidation to limit the rise in debt and the increase in French yields show how quickly the euro can come under downward pressure again if debt levels in the euro area get out of hand. After all, debt ratios in the euro zone are likely to rise significantly in the coming years, partly due to rising interest charges and higher defense spending. It is no use pointing the finger at debt developments in the US; instead, countries need to do their homework, especially France and Italy, and take countermeasures.""For as worrying as the projections for US debt may be, some euro area countries are just as vulnerable. If the countries concerned fail to implement reforms, this could increase pressure on the EU to take on joint debt and on the ECB to push down yields, at least temporarily, through additional bond purchases and/or a reduction in its key interest rates – contrary to its mandate of price stability. And that, in turn, would be negative for the euro. Apart from the loss of confidence in the single currency, there has already been a debt crisis in the euro zone once before.""I am by no means calling for a crisis and euro weakness; I am far from doing so, especially since it is time for countries to put their own houses in order and take countermeasures, even if this means painful savings and reforms. I would just like to point out that, although the dollar is currently the focus of attention when looking at EUR/USD, the euro zone also has its problems, which should not be ignored."

14:00 EUR/USD expected to trade in a range between 1.1580 and 1.1745 – UOB Group
There has been no increase in either downward or upward momentum; Euro (EUR) is likely to trade in a range of 1.1610/1.1675. In the longer run, EUR is expected to trade in a range between 1.1580 and 1.1745, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

There has been no increase in either downward or upward momentum; Euro (EUR) is likely to trade in a range of 1.1610/1.1675. In the longer run, EUR is expected to trade in a range between 1.1580 and 1.1745, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.No increase in either downward or upward momentum24-HOUR VIEW: "EUR pulled back sharply to a low of 1.1601 two days ago. Yesterday, when EUR was at 1.1630, we stated that 'the sharp decline appears to be running ahead of itself, and EUR is unlikely to weaken much further.' We expected EUR to 'trade in a range of 1.1600/1.1690.' Ourview of range trading was not wrong, even though EUR traded between 1.1599 and 1.1665, a narrower range than we expected. There has been no increase in either downward or upward momentum, and we continue to expect EUR to trade in a range today, probably between 1.1610 and 1.1675."1-3 WEEKS VIEW: "We continue to hold the same view as yesterday (26 Aug, spot at 1.1630). As highlighted, we expect EUR to trade in a range between 1.1580 and 1.1745 for now."

14:00 United States MBA Mortgage Applications climbed from previous -1.4% to -0.5% in August 22
United States MBA Mortgage Applications climbed from previous -1.4% to -0.5% in August 22

13:53 NZD/USD nears multi-month lows at 0.5800 on broad-based US Dollar strength
The New Zealand Dollar is struggling on Wednesday against a stronger US Dollar. The pair depreciates about 0.60% so far, reaching weekly lows right above 0.5820 and approaching four-month lows, at 0.5800

13:40 AUD/USD slides to near 0.6470 as US Dollar gains, PCE Inflation in focus
The AUD/USD pair falls to near 0.6470 during the European trading session on Wednesday.

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The Aussie pair declines as the US Dollar (USD) attracts bids after Federal Reserve (Fed) Governor Lisa Cook announced that she will file a lawsuit against her termination by United States (US) President Donald Trump on Monday.At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.44% higher to near 98.65.However, the outlook of the US Dollar has become uncertain as doubts among investors over the credibility of the Fed going forward have increased.Market experts believe that decisions on interest rates from Fed Cook’s replacement would be biased towards US President Trump’s economic agenda.On the economic front, investors await the US Personal Consumption Expenditure Price Index (PCE) data for July, which will be released on Friday. The core PCE inflation data, which is closely tracked by Fed officials as it excludes volatile food and energy items, is expected to have grown at an annual pace of 2.9%, faster than the prior release of 2.8%.Meanwhile, the Australian Dollar fails to attract bids even as Australian Monthly Consumer Price Index (CPI) data for July has come in stronger-than-projected. The inflation data rose at an annual pace of 2.8%, faster than expectations of 2.3% and the prior reading of 1.9%. Economic Indicator Monthly Consumer Price Index (YoY) The Monthly Consumer Price Index (CPI), released by the Australian Bureau of Statistics on a monthly basis, measures the changes in the price of a fixed basket of goods and services acquired by household consumers. The indicator was developed to provide inflation data at a higher frequency than the quarterly CPI. The YoY reading compares prices in the reference month to the same month a year earlier. A high reading is seen as bullish for the Australian Dollar (AUD), while a low reading is seen as bearish. Read more. Last release: Wed Aug 27, 2025 01:30 Frequency: Monthly Actual: 2.8% Consensus: 2.3% Previous: 1.9% Source: Australian Bureau of Statistics

13:06 USD/CNH: Guided by fix – OCBC
There has been a consistent and deliberate trend of setting the daily CNY fixing rate slightly stronger, but at a measured pace. USD/CNH was last seen at 7.1636 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

There has been a consistent and deliberate trend of setting the daily CNY fixing rate slightly stronger, but at a measured pace. USD/CNH was last seen at 7.1636 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. Daily momentum shows signs of turning bearish"Over the past 96 days since mid-April 2025, the USD/CNY fixing rate has declined by approximately 1056 pips, averaging about 11 pips per fix. Historically, when spot-fix deviation widens, it was due to depreciation pressure in the RMB and consequently, the relatively stable fixing rates seen in early 2025, throughout 2024, and in late 2023 helped to limit RMB depreciation. However, this time, the deviation between spot and fix is driven by a lower USD/CNY fixing rate, suggesting a deliberate attempt to guide the USD/CNY spot downward, even as the spot remains above the fix." "A gradual appreciation in RMB, gain in domestic equity market can help restore investor confidence and encourage a return of foreign capital inflows. Over the past few weeks, we have also observed net foreign equity inflow into China. These factors, alongside Fed about to resume rate cut should continue to be positive for RMB. There could be further room for RMB to appreciate should China economy see more sustained stabilisation. ""Daily momentum shows signs of turning mild bearish while RSI fell to near oversold conditions. Key support at 7.1460 (61.8% fibo retracement of 2024 low to 2025 high). Decisive break below this support puts next support at 7.11, 7.08 levels (76.4% fibo). If USD/CNH does trade significantly lower, it will have spillover effect onto other USDAxJs. Meanwhile, resistance at 7.1770 (50 DMA), 7.1830 (21 DMA) and 7.200/30 levels (100 DMA, 50% fibo)."

12:57 USD/JPY: Election review report delayed to early-September – OCBC
At Jackson Hole last weekend, Governor Ueda spoke about wage growth spreading from large enterprises to SMEs and barring a major negative demand shock, he expects labour market in Japan to remain tight and to continue to exert upward pressure on wages.

At Jackson Hole last weekend, Governor Ueda spoke about wage growth spreading from large enterprises to SMEs and barring a major negative demand shock, he expects labour market in Japan to remain tight and to continue to exert upward pressure on wages. Pair was last at 147.90 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. Bias to sell rallies"We opine that this keeps BoJ policy normalisation hopes alive. Data focus this week on Tokyo inflation (Friday) while moves in USD, treasury yields should continue to drive USD/JPY in the near term. But at the same time there is also some focus on the election review report, which was supposed to be released end Aug but has now been delayed to early September. This report is to inform the LDP on who will take responsibility for the upper house election setback in July." "There was media report earlier saying that PM Ishiba will step down in end-August, which he denied. Two days ago, PM Ishiba’s cabinet approval rating rose over 15ppts. For now, markets are not pricing in much for a move at the next meeting on 19 Sep and only fully pricing in a hike by Jan 2026. Political uncertainty sometimes hold back BoJ from a move. So, getting some clarity on PM Ishiba’s political career and if inflation data continues to come in hot alongside Fed turning more dovish, then we should well expect USD/JPY’s direction of travel to be skewed lower." "Bearish momentum on daily chart shows signs of fading while RSI is flat. 2-way trades likely in the interim, with bias to sell rallies. Resistance at 148.32 (23.6% fibo) and 149.10. Support at 146.70/90 (50 DMA, 38.2% fibo retracement of Apr low to Aug high), 145.40/50 levels (100 DMA, 50% fibo)."

12:52 USD/CHF tests intra-week highs at 0.8070 on generalised Dollar strength
The US Dollar is outperforming its rivals on Wednesday, unfazed by US President Trump’s attempts to influence the Federal Reserve’s decisions.

12:51 Japan’s Akazawa: Will call for US to issue an executive order to lower reciprocal auto tariffs
Japanese Economy Minister and top trade negotiator Ryosei Akazawa made some comments on Wednesday ahead of his visit to the United States (US) for trade negotiations.

12:49 USD: Cook dismissal impact limited – ING
President Trump’s firing of Fed Governor Lisa Cook and the broad view that this marks further politicisation of the Fed are negative for the dollar. Yet, the FX reaction has been muted and may only play out in the longer run, likely for two reasons.

President Trump’s firing of Fed Governor Lisa Cook and the broad view that this marks further politicisation of the Fed are negative for the dollar. Yet, the FX reaction has been muted and may only play out in the longer run, likely for two reasons. First, Cook is challenging the decision, which will probably end up in court. Second, her departure won’t have a big impact on the next few meetings. With Powell still in charge, markets expect policy to remain data-driven, and the dovish dissent remains too small to push for faster or larger cuts, ING’s FX analyst Francesco Pesole notes.USD to stabilise after solid Tuesday data "The real consequences of FOMC politicisation are likely to appear post-Powell – after May 2026 – assuming Trump doesn’t remove him earlier. By then, a new chair with dovish leanings would need committee support to move on cuts, but that’s too far out for markets to price in. Also, the new chair’s easing scope will be limited if Powell lowers rates by 100bp to around 3.5% by then, as markets expect. The most visible market impact so far has been the underperformance of 30-year Treasuries.""It’s reasonable to expect headlines on Cook’s firing to lose impact over time, as has happened with similar episodes since Trump took office. Trump’s unpredictability on many fronts – including Fed relations – has made markets increasingly reluctant to stray from the narrative set by data and official communication. Reports this morning that the White House is seeking more influence over regional Fed president picks had little effect.""We expect the dollar to stabilise after solid data yesterday – consumer confidence and durable goods orders beat consensus – and given today’s light calendar. The week’s focus will shift to GDP revisions and July’s core PCE on Thursday and Friday."

12:45 EUR/USD: Watching French political risk – OCBC
Euro (EUR) continued to trade restraint.

Euro (EUR) continued to trade restraint. French PM Bayrou said he would call for a confidence vote on budget (not government) on 8 Sept in an effort to force political parties to take a position on the government’s budget proposals in parliament rather than through street protests planned for later that week. EUR was last at 1.1622 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. 2-way trades still likely"The budget risk was supposed to come later in Oct but PM’s call to vote on 8 Sep means the national assembly has to make an earlier return from their 2months recess (which was supposed to run till 22 Sep). Last year, a no-confidence vote gamble (although not on budget) saw the exit of former PM Barnier. This is one risk to watch for implication on EUR as any misstep may lead to another election." "Constitutionally this is possible as France can hold another legislative election after the 1y lock-up period ended in July 2025. Prediction markets already have 90% vote that the current PM will be out by end-Dec. Another political instability unfolding may temporarily weigh on EUR but broader fundamentals should still support EUR, on a buy on dips." "Daily momentum and RSI indicators are not showing a clear bias. 2-way trades still likely. Support at 1.1610/50 levels (21, 50 DMAs) and 1.1570 levels. Resistance at 1.1730, 1.18 levels."

12:39 Steel inventories in China continue to rise – ING
Steel inventories at major Chinese Steel mills rose for a second consecutive week to 15.7mt in mid-August, up 4% compared to early August, according to the China Iron and Steel Association (CISA), ING’s commodity analysts Warren Patterson and Ewa Manthey note.

Steel inventories at major Chinese Steel mills rose for a second consecutive week to 15.7mt in mid-August, up 4% compared to early August, according to the China Iron and Steel Association (CISA), ING’s commodity analysts Warren Patterson and Ewa Manthey note.Copper production at Las Bambas mine is up 67% YoY"Still, Steel inventories are 4.8% lower year on year. Crude Steel production at major mills rose by 2% from early August to 2.12mt/d in mid-August, as healthy Steel margins encouraged higher output.""Chinese semi-finished Steel exports surged significantly by 320% YoY to 7.4mt in the first seven months of the year, according to Chinese Customs. This was largely driven by strong demand from Southeast Asia and the Middle East. In July alone, shipments exceeded 1.5mt (14% of total global Steel exports).""In Copper, Chinese miner MMG Ltd. increased Copper production at its Las Bambas mine to 210kt in the first half of 2025, up 67% YoY, as improved relations with local communities helped to avoid unexpected stoppages. The mine is projected to produce 400kt of Copper ore in 2025, representing 77% of MMG’s total Copper production target for the year."

12:38 EU to propose removing tariffs on US goods to meet Trump's demands – Bloomberg
Citing people familiar with the matter, Bloomberg reported on Wednesday that the European Union (EU) is looking to quicken its move to pass the legislation to remove all tariffs on US industrial goods.

12:30 Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data.

12:28 GBP: Still good short-term outlook – ING
Another indication that French politics is having a limited FX impact is EUR/GBP, which has faced only limited downside pressure since the start of the week, ING’s FX analyst Francesco Pesole notes.

Another indication that French politics is having a limited FX impact is EUR/GBP, which has faced only limited downside pressure since the start of the week, ING’s FX analyst Francesco Pesole notes. A structural break above 1.35 is a matter of when"That said, the balance of risks remains more tilted to the downside for the pair, with the hawkish repricing in Bank of England rate expectations still underpinning decent GBP short-term momentum.""A test of 0.860 remains possible, even though our longer-term view is less optimistic on GBP given the possibility of a dovish rethink of BoE cuts later in the autumn. In GBP/USD, we still think a structural break above 1.35 is a matter of when rather than if."

12:24 TRY: Lira crosses 41 to the dollar even as FX deposit scheme axed – Commerzbank
USD/TRY breached the 41.0 level this week amid media and policymaker commentary about positive developments on the economic front. The lira exchange rate versus a 50-50 basket of USD and EUR is depreciating at faster than 40% annualised.

USD/TRY breached the 41.0 level this week amid media and policymaker commentary about positive developments on the economic front. The lira exchange rate versus a 50-50 basket of USD and EUR is depreciating at faster than 40% annualised. Just before USD/TRY breached 41.0, policymakers had formally ended the FX-protected deposit scheme (KKM), halting new account openings as of 23 August. Existing balances of about $11bn will mature by year-end, with the heaviest redemption anticipated in October, Commerzbank's FX analyst Tatha Ghose notes. Underlying inflation momentum is nowhere near target yetThe programme was one of the costliest experiments in Turkey’s economic history, accumulating a fiscal burden of roughly $60bn. Shutting KKM is politically and symbolically significant, because it was a signature ‘soft capital control’ and its end represents a step towards exit from unconventional policies. From a market point of view though, we do not anticipate any positive impact. It does not surprise us that USD/TRY breached an important level right after these announcements. First, the ending of KKM had been promised by policymakers and anticipated by the market. Secondly, the availability of KKM might have boosted the lira in a short-term technical sense. Last but not least, investors are unlikely to specially reward a reform that undoes a recently introduced distortion.""Meanwhile, risks in the corporate sector could be moving in the opposite direction: we recently received data that the net FX deficit of non-financial corporates widened by 4.7%m/m to $185.8bn in June, hitting the widest deficit since 2018. Turkey’s short-term FX surplus contracted by nearly a third, leaving firms more exposed to swings in the exchange rate. On the surface, external buffers appear healthier. Gross international reserves have rebounded strongly. FX reserves have recovered from their Q1 low, but stand only at around $77bn (they used to be $90bn in January); reserves (net of swaps) stand at $45.2bn. In other words, there has been some rebound since the dip induced by the political volatility of February-March, but the rebound only partly made up for the decline.""In conclusion, investors may be cheering a couple of months of modest inflation deceleration and other good news. But, challenges lie ahead. Underlying inflation momentum is nowhere near target yet, and some imbalances – for example, the trade deficit – are worsening once again. Against this background, we anticipate the exchange rate to keep depreciating at a fast pace."

12:12 Dow Jones futures steady as Nvidia earnings, AI stocks drive focus
Dow Jones futures remain steady near 45,500 during European hours on Wednesday, ahead of the opening of the United States (US) regular markets. Moreover, the S&P 500 futures and the Nasdaq 100 futures hold ground near 6,480 and 23,590, respectively.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Dow Jones futures hold steady as traders turned cautious ahead of Nvidia’s earnings release.MongoDB jumped 30% and Okta gained 5% on AI-driven demand, while Cracker Barrel rose 7% in extended trading.US regular markets advanced on Tuesday as traders digested the Trump-Fed feud.Dow Jones futures remain steady near 45,500 during European hours on Wednesday, ahead of the opening of the United States (US) regular markets. Moreover, the S&P 500 futures and the Nasdaq 100 futures hold ground near 6,480 and 23,590, respectively.US stock futures move little as traders adopt caution ahead of Nvidia’s earnings release. Expectations are elevated, with Nvidia Corporation (NVDA) shares having gained almost 34% year-to-date. After hours, MongoDB +30% and Okta +5% on AI-driven demand; Cracker Barrel +7% after scrapping logo amid backlash.In the previous regular US session, the Dow increased 0.3%, the S&P 500 grew 0.41% and the Nasdaq Composite rose 0.44%. US stock markets gained ground as traders digested the escalating feud between US President Donald Trump and the Federal Reserve (Fed).Fed Governor Lisa Cook is expected to file a lawsuit challenging her removal by President Trump. Trump said, at a Cabinet meeting Tuesday, that he would abide by the court’s decision but signaled little concern over Cook’s challenge.Stock markets may receive further support as the dismissal of Fed Governor Cook could increase the likelihood of heavy interest rate cuts, given Trump’s ongoing pressure on the central bank to reduce borrowing costs.The CME FedWatch tool indicates pricing in more than 87% odds for a cut of at least a quarter-point at the Fed’s September meeting, up from 84% previous day. The upcoming release of the Q2 US Gross Domestic Product Annualized and July Personal Consumption Expenditures Price Index data will be eyed later this week. AI stocks FAQs What is artificial intelligence? First and foremost, artificial intelligence is an academic discipline that seeks to recreate the cognitive functions, logical understanding, perceptions and pattern recognition of humans in machines. Often abbreviated as AI, artificial intelligence has a number of sub-fields including artificial neural networks, machine learning or predictive analytics, symbolic reasoning, deep learning, natural language processing, speech recognition, image recognition and expert systems. The end goal of the entire field is the creation of artificial general intelligence or AGI. This means producing a machine that can solve arbitrary problems that it has not been trained to solve. What are AI applications? There are a number of different use cases for artificial intelligence. The most well-known of them are generative AI platforms that use training on large language models (LLMs) to answer text-based queries. These include ChatGPT and Google’s Bard platform. Midjourney is a program that generates original images based on user-created text. Other forms of AI utilize probabilistic techniques to determine a quality or perception of an entity, like Upstart’s lending platform, which uses an AI-enhanced credit rating system to determine credit worthiness of applicants by scouring the internet for data related to their career, wealth profile and relationships. Other types of AI use large databases from scientific studies to generate new ideas for possible pharmaceuticals to be tested in laboratories. YouTube, Spotify, Facebook and other content aggregators use AI applications to suggest personalized content to users by collecting and organizing data on their viewing habits. What are some stocks that fit into the AI field? Nvidia (NVDA) is a semiconductor company that builds both the AI-focused computer chips and some of the platforms that AI engineers use to build their applications. Many proponents view Nvidia as the pick-and-shovel play for the AI revolution since it builds the tools needed to carry out further applications of artificial intelligence. Palantir Technologies (PLTR) is a “big data” analytics company. It has large contracts with the US intelligence community, which uses its Gotham platform to sift through data and determine intelligence leads and inform on pattern recognition. Its Foundry product is used by major corporations to track employee and customer data for use in predictive analytics and discovering anomalies. Microsoft (MSFT) has a large stake in ChatGPT creator OpenAI, the latter of which has not gone public. Microsoft has integrated OpenAI’s technology with its Bing search engine. Could artificial intelligence generate another stock bubble? Following the introduction of ChatGPT to the general public in late 2022, many stocks associated with AI began to rally. Nvidia for instance advanced well over 200% in the six months following the release. Immediately, pundits on Wall Street began to wonder whether the market was being consumed by another tech bubble. Famous investor Stanley Druckenmiller, who has held major investments in both Palantir and Nvidia, said that bubbles never last just six months. He said that if the excitement over AI did become a bubble, then the extreme valuations would last at least two and a half years or long like the DotCom bubble in the late 1990s. At the midpoint of 2023, the best guess is that the market is not in a bubble, at least for now. Yes, Nvidia traded at 27 times forward sales at that time, but analysts were predicting extremely high revenue growth for years to come. At the height of the DotCom bubble, the NASDAQ 100 traded for 60 times earnings, but in mid-2023 the index traded at 25 times earnings.

11:57 DXY: 2-way trades likely in the interim – OCBC
US Dollar (USD) continued to trade on the backfoot, from news of Trump removing Fed Governor Lisa Cook from her position. DXY last at 98.65 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

US Dollar (USD) continued to trade on the backfoot, from news of Trump removing Fed Governor Lisa Cook from her position. DXY last at 98.65 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. Mild bearish momentum on daily chart fades"It remains unclear if Trump has his way because Lisa Cook indicated her intent to challenge Trump’s decision in courts. Regardless, the decline in USD reflects concerns over Fed independence and potentially, how the make-up of the Fed may be more dovish leaning going forward. This can skew the votes for cut and ultimately weigh on USD. But USD bears need weak US data or more dovish Fed rhetoric." "We will be keeping a lookout on whether data or Fedspeaks changes the narrative from 25bp cut expectation to discussion of 50bp cut at Sep FOMC or whether the trajectory of cut increases. For now, markets are still pricing in 86% chance of 25bp cut at September FOMC and a total of about 55bps cut this year." "Mild bearish momentum on daily chart faded while RSI was flat. 2-way trades likely in the interim. Resistance at 98.90 (100 DMA), 99.60 levels. Support at 97.60 levels. Data focus on core PCE (Fri) before NFP (next Fri)."

11:55 USD/CAD picks up to 1.3850, remains wavering within previous ranges
The US Dollar is posting moderate gains against the Loonie on Wednesday.

11:51 Secondary tariffs against India come into force – ING
Oil prices were unable to extend their 4-day run of gains, with ICE Brent coming under pressure yesterday to settle 2.3% lower. There was no single catalyst for yesterday’s move.

Oil prices were unable to extend their 4-day run of gains, with ICE Brent coming under pressure yesterday to settle 2.3% lower. There was no single catalyst for yesterday’s move. However, the recent run-up in the market was starting to become increasingly detached from fundamentals, which are more bearish, ING’s commodity analysts Warren Patterson and Ewa Manthey note.Secondary tariffs haven't been enough to stop India from buying Russian Oil"US President Trump’s 25% secondary tariffs against India come into effect today, taking the total levy on US imports from India to 50%. The secondary tariff has not been enough to stop India from buying Russian Oil. Initially, secondary tariffs saw Indian refiners pause purchases. They have resumed purchases. The market will be watching Russian Oil flows to India closely going forward to gauge the impact, if any, of secondary tariffs.""Meanwhile, numbers from the American Petroleum Institute overnight were fairly neutral, with US crude Oil inventories falling by 1m barrels over the last week. Gasoline and distillate stocks saw declines, falling by 2.1m barrels and 1.5m barrels, respectively. The draw in distillate stocks was slightly supportive for the middle distillate market, particularly given that we are in a period where stocks usually grow." "Overall distillate stock levels remain below the seasonal 5-year average. The more widely followed Energy Information Administration (EIA) weekly inventory report will be released later today."

11:48 EUR: Euro proving resilient to France – ING
The Euro (EUR) is not actively trading on the French political turmoil, but it’s likely facing some degree of restraint from it. French equities had another bad day, but what matters is OAT's performance.

The Euro (EUR) is not actively trading on the French political turmoil, but it’s likely facing some degree of restraint from it. French equities had another bad day, but what matters is OAT's performance. The euro’s correlation with EU bond spreads to German bunds tends to be either very low most of the time or quite high for short bursts. For Italian bonds, the pain threshold was around 200bp; for French bonds, we don’t have enough history to be sure, but a break above December’s high of 90bp (currently 77bp) can trigger a significant euro reaction, ING’s FX analyst Francesco Pesole notes.EUR/USD can ultimately make its way back to 1.170"Such a move would suggest fiscal concerns are outweighing political instability. The latter seems largely priced into the OAT risk premium, given that politically stable Italy is trading at almost the same 10-year yield despite a BBB+ rating.""Markets are still making up their minds about the aftermath of the upcoming confidence vote and don’t seem in a rush to price snap elections as the baseline scenario. The alternative – this or a new government watering down spending cuts enough to gather parliamentary support and deliver some fiscal consolidation – is plausible, though admittedly a relatively narrow path given the heightened scrutiny it faces.""Anyway, markets appear to have absorbed the initial bad news and might stabilise ahead of the actual vote on 8 September. We think EUR/USD can hold above 1.160 and ultimately make its way back to 1.170."

11:34 Gold Price Forecast: XAU/USD slips to near $3,380 on resilient US Dollar
Gold price (XAU/USD) depreciates after registering more than three-quarters of losses in the previous session, trading around $3,380 per troy ounce during the European hours on Wednesday.

11:18 Silver Price Forecast: XAG/USD retreats below $38.50 amid a firmer Dollar
Silver’s (XAG/USD) accelerates its reversal from last week’s highs right above $39.00, to levels below $38.50, with bears testing support at Tuesday’s low of $39.35, amid a broad-based US Dollar strength on Wednesday.The US Dollar Index, which measures the value of the US Dollar against the world’s

11:17 Indian Rupee sees more downside as US tariffs on India set to kick in
The Indian Rupee is expected to see more downside against the US Dollar (USD) as increased tariffs on imports from India to the United States (US) are set to come into effect at 12:01 AM EDT or 09:31 PM IST.

11:05 FX option expiries for Aug 27 NY cut
FX option expiries for Aug 27 NY cut at 10:00 Eastern Time via DTCC can be found below.

FX option expiries for Aug 27 NY cut at 10:00 Eastern Time via DTCC can be found below.EUR/USD: EUR amounts1.1485 1.4b1.1500 3.7b1.1550 2.8b1.1630 980m1.1650 3.2b1.1660 1.7b1.1700 1.9b1.1750 1.5bUSD/JPY: USD amounts 147.50 1.1b148.00 1.9bGBP/USD: GBP amounts1.3300 1.1b1.3350 1.3b1.3575 1.1bUSD/CAD: USD amounts 1.3690 1.5bAUD/USD: AUD amounts0.6520 1.1b0.6525 990mNZD/USD: NZD amounts0.5900 590m

11:01 Austria UniCredit Bank Manufacturing PMI increased to 49.1 in August from previous 48.2
Austria UniCredit Bank Manufacturing PMI increased to 49.1 in August from previous 48.2

11:00 Switzerland ZEW Survey – Expectations down to -53.8 in August from previous 2.4
Switzerland ZEW Survey – Expectations down to -53.8 in August from previous 2.4

10:54 GBP/JPY rises to near 199.00 as BoJ rate cut bets ease
GBP/JPY gains ground after registering losses in the previous session, trading around 198.80 during the European hours on Wednesday. The currency cross appreciates as the Pound Sterling (GBP) receives support as traders expect the Bank of England (BoE) to avoid further rate cuts.

10:51 Pound Sterling trades broadly stable as Trump threatens Fed independence
The Pound Sterling (GBP) trades in a tight range around 1.3460 against the US Dollar (USD) during the European trading session on Wednesday.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Pound Sterling consolidates around 1.3460 against the US Dollar on Wednesday.Fed’s Cook announces that she will file a lawsuit against her termination by US President Trump.BoE’s Mann expressed a hawkish stance on interest rate guidance.The Pound Sterling (GBP) trades in a tight range around 1.3460 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair consolidates as the US Dollar trades broadly stable, following the announcement from Federal Reserve (Fed) Governor Lisa Cook that she will file a lawsuit against her termination by United States (US) President Donald Trump.At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, ticks up to near 98.40.On Tuesday, Fed Cook’s lawyer said in a statement, “His [Trump] attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action,” Reuters reported.Regardless of the outcome of the lawsuit filed by Fed Governor Cook, market experts believe that Trump’s attempt to politicize the Fed is a big threat to the US Dollar’s dominance. "Investors will naturally start to increasingly question the independence of the Fed, which would result in a steeper yield curve and a weaker dollar,” analysts at ING said, Reuters reported.Experts also believe that the entry of one more of Trump’s guys into the rate-setting committee would strengthen the bid for more interest rate cuts in the near term.According to the CME FedWatch tool, there is an 87% chance that the Fed will cut interest rates in the September monetary policy meeting.Pound Sterling trades calmly on BoE Mann’s hawkish remarksThe Pound Sterling trades broadly stable, on a calm day, on Wednesday as Bank of England (BoE) Monetary Policy Committee (MPC) member Catherine Mann has argued in favor of holding interest rates at their current levels for a longer period as inflation is proving to be persistent, until any downside risks to economic growth materialize."A more persistent hold on Bank Rate is appropriate right now, to maintain the tight - but not tighter - monetary policy stance needed to lean against inflation persistence persisting," Mann said on Tuesday in a speech at a conference to mark the Bank of Mexico's (Banxico) 100th anniversary, Reuters reported.In the last three months, inflation in the United Kingdom (UK) has been accelerating at a faster pace. In July, the headline Consumer Price Index (CPI) rose at an annual pace of 3.8%, the highest level seen in almost 18 months.In the policy meeting earlier this month, the BoE reduced interest rates by 25 basis points (bps) to 4%, with a slim majority, and guided a “gradual and careful” monetary policy expansion.Going forward, the GBP/USD pair will be influenced by the US Personal Consumption Expenditures Price Index (PCE) data for July, which will be released on Friday. The core PCE inflation data, which is closely tracked by Fed officials as it excludes volatile food and energy items, is expected to have grown at an annual pace of 2.9%, faster than the prior release of 2.8%.Technical Analysis: Pound Sterling consolidates around 1.3460The Pound Sterling trades sideways around 1.3460 against the US Dollar on Wednesday. The overall trend of the GBP/USD pair is bullish as it remains above the 200-day Exponential Moving Average (EMA), which trades around 1.3186.The Cable is also forming an inverse Head and Shoulder (H&S) chart pattern, which leads to a bullish reversal after a corrective or downside move. The neckline of the H&S pattern is placed around 1.3580.The 14-day Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, suggesting a sharp volatility contraction.Looking down, the August 11 low of 1.3400 will act as a key support zone. On the upside, the July 1 high near 1.3790 will act as a key barrier. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

10:36 USD/JPY retreats from 147.95 with Fed’s independence in question
The US Dollar pares gains after a three-day rally against the Japanese Yen, as investors ponder the consequences of US President Trump’s attempts to gain control of the Federal Reserve, and Governor Cook’s decision to sue the president.Trump’s unprecedented decision to oust Cook is just the latest e

10:28 Forex Today: US Dollar shows resilience despite Trump-Fed drama
Here is what you need to know on Wednesday, August 27:

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The economic calendar will not offer any high-impact data releases. Later in the American session, the US Treasury will hold a 5-year note auction. US Dollar Price This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Euro. USD EUR GBP JPY CAD AUD NZD CHF USD 0.96% 0.46% 0.65% 0.16% 0.18% 0.54% 0.50% EUR -0.96% -0.49% -0.38% -0.79% -0.71% -0.42% -0.45% GBP -0.46% 0.49% -0.04% -0.30% -0.28% 0.08% 0.04% JPY -0.65% 0.38% 0.04% -0.41% -0.43% -0.03% -0.02% CAD -0.16% 0.79% 0.30% 0.41% 0.03% 0.41% 0.34% AUD -0.18% 0.71% 0.28% 0.43% -0.03% 0.36% 0.31% NZD -0.54% 0.42% -0.08% 0.03% -0.41% -0.36% -0.04% CHF -0.50% 0.45% -0.04% 0.02% -0.34% -0.31% 0.04% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote). Fed Governor Lisa Cook will reportedly file a lawsuit challenging her removal by US President Donald Trump. While speaking at a Cabinet meeting on Tuesday, Trump noted that he is prepared to abide by any court decision but indicated he was not concerned about Cook’s challenge. He further noted that he already has somebody in mind as Cook's replacement, adding there will soon be a majority of rate-cut voters within the Fed.Meanwhile, the data from the US showed on Tuesday that the Conference Board's Consumer Confidence Index eased slightly to 97.4 in August from 98.7 in July. In this period, the Present Situation Index dropped by 1.6 points to 131.2, while the Expectations Index, which measures short-term expectations for income, economic activity, and employment, fell by 1.2 points to 74.8. After losing about 0.2% on Wednesday, the US Dollar (USD) Index stays in positive territory near 98.50 in the European morning on Wednesday.Bank of Canada (BoC) Governor Tiff Macklem noted late Tuesday that the BoC will not be revisiting its 2% inflation target for the foreseeable future, citing uncertainty around trade and ever-changing tariff policies from the US. USD/CAD fluctuates in a very tight range below 1.3850 after posting marginal losses on Tuesday.The data published by the Australian Bureau of Statistics (ABS) showed on Wednesday that Australia’s Consumer Price Index (CPI) jumped by 2.8% in the year to July, following a 1.9% increase reported in June. This reading surpassed the market expectation of 2.3%. After rising above 0.6500 during the Asian trading hours, AUD/USD lost its traction and was last seen trading in negative territory at around 0.6480.GfK Consumer Confidence Index in Germany declined to -23.6 in September from -21.7 in August, missing analysts' estimate of -21.5. In the meantime, the political drama in France escalates after French Prime Minister François Bayrou announced that a no-confidence vote will be held on September 8th. Political parties in France failed to agree on the 2026 budget, which aims to cut government spending by 44 billion Euros to restore fiscal balance. EUR/USD stays on the back foot and declines toward 1.1600 in the European morning on Wednesday.GBP/USD edges lower toward 1.3450 after posting small gains on Tuesday. USD/JPY trades in a narrow band below 148.00 in the European session on Wednesday. In the Asian session, July Unemployment Rate and Tokyo CPI data will be featured in the Japanese economic docket.Gold gathered bullish momentum in the American session on Tuesday and climbed to a two-week high above $3,390. XAU/USD corrects lower in the European morning and trades below $3,380. US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.

10:17 NZD/USD holds losses near 0.5850 due to further RBNZ rate cut bets
NZD/USD has trimmed its losses from the previous session, trading around 0.5850 during the early European hours on Wednesday.

10:04 EUR/GBP softens below 0.8650 amid fears of French political crisis
The EUR/GBP cross trades in negative territory near 0.8630 during the early European session on Wednesday. The Euro (EUR) weakens against the Pound Sterling (GBP) amid French political uncertainty as French Prime Minister (PM) François Bayrou might lose a confidence vote on September 9.

09:03 Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $63.00 per barrel, down from Tuesday’s close at $63.16.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $66.58 after its previous daily close at $66.74.

09:00 Germany GfK Consumer Confidence Survey below forecasts (-21.5) in September: Actual (-23.6)
Germany GfK Consumer Confidence Survey below forecasts (-21.5) in September: Actual (-23.6)

08:46 EUR/JPY Price Forecast: Strengthens above 171.50, further consolidation cannot be ruled out
The EUR/JPY cross gains traction to near 171.85 during the early European session on Wednesday. The Japanese Yen (JPY) softens against the Euro (EUR) amid the improved risk sentiment, which undermines the safe-haven currency.

08:28 USD/JPY Price Forecast: Strives to break above 200-day EMA
The USD/JPY pair trades 0.4% higher to near 148.00 during the late Asian trading session on Wednesday. The pair advances as the Japanese Yen (JPY) underperforms its peers amid uncertainty surrounding the Tokyo Consumer Price Index (CPI) data for August, which is scheduled to be released on Friday.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a} .fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/JPY advances as the Japanese Yen underperforms across the board.Economists expect Tokyo CPI ex. Fresh Food to have risen at a moderate pace of 2.5% on year in August.The US Dollar trades calmly as Fed’s Cook decides to file a lawsuit to keep her job.The USD/JPY pair trades 0.4% higher to near 148.00 during the late Asian trading session on Wednesday. The pair advances as the Japanese Yen (JPY) underperforms its peers amid uncertainty surrounding the Tokyo Consumer Price Index (CPI) data for August, which is scheduled to be released on Friday. Japanese Yen Price Today The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.22% 0.21% 0.37% 0.04% 0.11% 0.25% 0.12% EUR -0.22% -0.01% 0.09% -0.23% -0.18% -0.01% -0.14% GBP -0.21% 0.00% 0.14% -0.17% -0.06% 0.04% -0.09% JPY -0.37% -0.09% -0.14% -0.28% -0.27% -0.12% -0.18% CAD -0.04% 0.23% 0.17% 0.28% 0.07% 0.23% 0.09% AUD -0.11% 0.18% 0.06% 0.27% -0.07% 0.17% 0.03% NZD -0.25% 0.00% -0.04% 0.12% -0.23% -0.17% -0.13% CHF -0.12% 0.14% 0.09% 0.18% -0.09% -0.03% 0.13% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote). Investors will closely monitor the Tokyo CPI data as it will influence market expectations for the Bank of Japan’s (BoJ) monetary policy outlook. Tokyo CPI ex. Fresh Food is expected to have grown at an annual pace of 2.5%, slower than the prior reading of 2.9%. Signs of cooling price pressures would force traders to trim bets supporting interest rate hikes by the BoJ in the remainder of the year.Meanwhile, the US Dollar (USD) trades calmly as Federal Reserve (Fed) Governor Lisa Cook has confirmed to file a lawsuit against her termination by United States (US) President Donald Trump over mortgage allegations.Financial market participants have seen the event as a serious attack on the Fed’s independence and Trump’s intention to politicize the central bank to fulfil his economic agenda. "The concern is the intent of the Trump administration: it’s not to preserve Fed integrity, it’s to install Trump’s own people at the Fed,” analysts at Capital.com said, Reuters reported.USD/JPY trades in an Ascending Triangle formation, which indicates a sharp volatility contraction. The upward-sloping border of the above-mentioned chart pattern is plotted from the April 22 low of 139.40, while the horizontal resistance is plotted from the March 28 high of 151.20.The asset strives to break above the 200-day Exponential Moving Average (EMA), which trades around 147.90.The 14-day Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, indicating a sideways trend.The pair would see more upside to near the psychological level of 150.00 and the March 28 high of 151.20 if it breaks above the August 22 high of 148.78.On the flip side, a reversal move by the pair below the July 24 low of 145.85 would pave the way for the July 7 low at 144.22, followed by the July 3 low of 143.45.USD/JPY daily chart
US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.

08:26 SNB’s Martin strikes cautious note on prospect of negative rates — Reuters
Swiss Central Bank (SNB) Vice Chairman Antoine Martin said on Wednesday that the bar is higher for the central bank to move interest rates into negative territory than it would be to cut rates if they were still above zero, Reuters reported on Wednesday.

07:58 US Dollar Index advances to near 98.50 despite worries over Fed independence
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is recovering its recent losses and trading around 98.50 during the Asian hours on Wednesday.

07:44 USD/CAD ticks up around 1.3850, Fed Cook’s ousting keeps US Dollar on back foot
The USD/CAD pair edges higher to near 1.3850 during the late Asian trading session on Wednesday. The Loonie pair gains marginally as the US Dollar (USD) ticks up, with the US Dollar Index (DXY) rising slightly to near 98.35.

.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}USD/CAD edges up as the US Dollar holds ground despite Fed Cook’s termination by US President Trump.Fed’s Cook decided to file a lawsuit to defend her termination.Investors await US-Canada trade talks and Canadian GDP data.The USD/CAD pair edges higher to near 1.3850 during the late Asian trading session on Wednesday. The Loonie pair gains marginally as the US Dollar (USD) ticks up, with the US Dollar Index (DXY) rising slightly to near 98.35.However, the outlook for the US Dollar is under pressure as market experts doubt the dominance of the Greenback on expectations that decision-making by United States (US) financial institutions is unlikely to be rational going forward.Concerns over the credibility of US institutions, especially the Federal Reserve (Fed), have escalated following Governor Lisa Cook’s termination by President Donald Trump over mortgage allegations.Fed’s Cook has decided to file a lawsuit against her termination to keep her job, and his attorney has said in a statement that Cook’s removal is not backed by factual evidence. "His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action," Cook’s lawyer, prominent Washington attorney Abbe Lowell, said, Reuters reported.Meanwhile, investors brace for a sideways trend in the Canadian Dollar (CAD) ahead of trade discussions between Canada and the US.Earlier this week, Canadian cabinet minister Dominic LeBlanc fled Washington to meet US Commerce Secretary Howard Lutnick to discuss trade concessions.The comments from Canada’s LeBlanc have signaled that he is confident about closing a trade agreement with the US. "We are looking, I hope, for an agreement that will put us in a better position than we are right now," LeBlanc said in a French-language radio program on Monday.On the domestic front, investors will focus on June and Q2 Gross Domestic Product (GDP) data, which will be released on Friday. Economic Indicator Gross Domestic Product (MoM) The Gross Domestic Product (GDP), released by Statistics Canada on a monthly and quarterly basis, is a measure of the total value of all goods and services produced in Canada during a given period. The GDP is considered as the main measure of Canadian economic activity. The MoM reading compares economic activity in the reference month to the previous month. Generally, a high reading is seen as bullish for the Canadian Dollar (CAD), while a low reading is seen as bearish. Read more. Next release: Fri Aug 29, 2025 12:30 Frequency: Monthly Consensus: 0.1% Previous: -0.1% Source:

07:38 India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Wednesday, according to data compiled by FXStreet.

.fxs-related-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-related-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}.fxs-related-module-related-link a{text-decoration:none;color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px}.fxs-related-module-related-link a:hover,.fxs-related-module-related-link:hover,.fxs-related-module-related-link:hover a{color:#e4871b}.fxs-related-module-related-link a:hover{text-decoration:none}@media (min-width:680px){.fxs-related-module-title{font-size:19.2px;line-height:27.2px}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}} .fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}} Gold prices fell in India on Wednesday, according to data compiled by FXStreet. The price for Gold stood at 9,518.02 Indian Rupees (INR) per gram, down compared with the INR 9,568.15 it cost on Tuesday. The price for Gold decreased to INR 111,016.40 per tola from INR 111,601.00 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,518.02 10 Grams 95,180.80 Tola 111,016.40 Troy Ounce 296,043.90 2025 Gold Forecast Guide [PDF] Download your free copy of the 2025 Gold Forecast Daily Digest Market Movers: Gold price loses traction despite concerns about the future of Fed independence Donald Trump said on Tuesday that he will soon have a “majority” of his own nominees on the Fed board of governors who will back his desire to cut the interest rates. In response, Fed Governor Lisa Cook said Trump has no authority to fire her from the central bank, and she will not resign. Trump said he was ready for a legal fight with Cook after he moved to oust her from her post following allegations that she falsified mortgage documents, per Bloomberg. "Overnight you had the news that Trump fired one of the Fed governors accused of mortgage fraud. It gave a little life to gold because the Fed's kind of been the driver in gold right now," said RJO Futures market strategist Bob Haberkorn. Last week, Fed Chair Jerome Powell signalled a possible interest rate cut at the US central bank's meeting in September, saying that risks to the job market were rising. Traders are now pricing in nearly an 85% chance for a cut of at least a quarter-point at the Fed’s September meeting, up from 75% last week, according to the CME FedWatch tool. FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.)

07:32 GBP/USD falls to near 1.3450, upside appears on fading BoE rate cut bets
GBP/USD retraces its recent gains from the previous session, trading around 1.3450 during the Asian hours on Wednesday.

07:27 Silver Price Forecast: XAG/USD tumbles to near $38.50 as US Dollar rebounds
The Silver price (XAG/USD) attracts some sellers to around $38.50 during the Asian trading hours on Wednesday. The white metal retreats from a two-week low due to some profit-taking and a stronger US Dollar (USD).

07:00 USD/CHF consolidates around 0.8050, Fed’s Cook vows to defend her job
The USD/CHF pair trades in a tight range around 0.8050 during the Asian trading session on Wednesday.

06:28 WTI hovers around $63.00 ahead of US tariffs on India
West Texas Intermediate (WTI) Oil price moves little after registering more than 2% decline in the previous session, trading around $63.10 per troy ounce during the Asian hours on Wednesday.

06:24 EUR/USD ticks down to near 1.1630 amid French political uncertainty
The EUR/USD pair edges lower to near 1.1630 during the Asian trading session on Wednesday. The major currency pair faces a slight selling pressure as political uncertainty in France has weighed on the Euro (EUR).

05:46 Australian Dollar holds ground following stronger monthly CPI
The Australian Dollar (AUD) remains steady following the release of the Monthly Consumer Price Index (CPI) on Wednesday. However, the AUD/USD pair receives downward pressure as the US Dollar (USD) recovers its recent losses from the previous session.

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span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}Australian Dollar steadies as Monthly CPI rose by 2.8% YoY in July, surpassing the expected 2.3% increase.Traders remain cautious after President Trump warned of a 200% tariff on Chinese goods.Trump has indicated that White House economist Stephen Miran could be considered for Fed Governor Lisa Cook’s seat.The Australian Dollar (AUD) remains steady following the release of the Monthly Consumer Price Index (CPI) on Wednesday. However, the AUD/USD pair receives downward pressure as the US Dollar (USD) recovers its recent losses from the previous session.Australian Bureau of Statistics (ABS) reported that the Monthly Consumer Price Index jumped by 2.8% year-over-year in July, following a 1.9% increase reported in June. The market consensus was for 2.3% growth in the reported period. Meanwhile, the Australian Construction Work Done improved to 3% in the second quarter, against the 0.8% expected.Traders remain cautious following US President Donald Trump’s warning of imposing a 200% tariff on Chinese goods if Beijing refuses to supply magnets to the United States (US), per Reuters. It is worth noting that any change in the Chinese economy could influence AUD as China and Australia are close trading partners.Australian Dollar steadies as US Dollar recovers recent lossesThe US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is retracing its recent losses and trading around 98.30 at the time of writing. Focus is shifted toward the upcoming release of the Q2 US Gross Domestic Product Annualized and July Personal Consumption Expenditures Price Index data, the Fed's preferred inflation gauge.US President Donald Trump announced early Tuesday that he was removing Fed Governor Lisa Cook from her position on the Fed's board of directors. This is considered the first instance of a president firing a central bank governor in the Fed’s 111-year history.Trump has already nominated White House economist Stephen Miran to a temporary seat that expires in January and has suggested Miran could also be in the running for Cook’s position. Meanwhile, The Wall Street Journal reported that David Malpass, former World Bank president, is another potential candidate.President Trump threatened "subsequent additional tariffs" and export restrictions on advanced technology and semiconductors in retaliation for digital services taxes that hit American technology companies, per Bloomberg.Fed Chair Jerome Powell said at the Jackson Hole symposium on Friday that risks to the job market were rising, but also noted inflation remained a threat and that a decision wasn't set in stone. Powell also stated that the Fed still believes it may not need to tighten policy solely based on uncertain estimates that employment may be beyond its maximum sustainable level.The US Initial Jobless Claims rose to 235K for the previous week, an eight-week high and above the consensus estimate of 225K, suggesting some softening in labor market conditions.The preliminary S&P Global US Composite PMI picked up pace in August, with the index at 55.4 against 55.1 prior. Meanwhile, the US Manufacturing PMI rose to 53.3 from 49.8 prior, surpassing the market consensus of 49.5. Services PMI eased to 55.4 from 55.7 in the previous reading, but was stronger than the 54.2 expected.The Reserve Bank of Australia (RBA) Minutes of its August monetary policy meeting suggested that board members agreed that some further reduction in the cash rate is likely to be needed in the coming year. RBA Meeting Minutes also indicated that policymakers consider the pace of rate cuts would be determined by incoming data and the balance of global risks. The board saw arguments for both a gradual pace of easing and for a faster pace, while the labor market remained a little tight, inflation was still above the midpoint, and domestic demand was recovering.Australian Dollar tests confluence resistance zone around 0.6500The AUD/USD pair is trading around 0.6500 on Wednesday. The technical analysis of the daily chart indicates that the pair is positioned slightly above the descending channel pattern, suggesting an emergence of a bullish bias. Additionally, the pair is trading above the nine-day EMA, indicating short-term price momentum is strengthening.On the upside, a successful breach above the psychological level of 0.6500 could support the AUD/JPY pair to explore the region around the monthly high at 0.6568, reached on August 14. Further advances could prompt the pair to test the nine-month high of 0.6625, which was recorded on July 24.The immediate support is appearing at the 50-day EMA of 0.6494, followed by the nine-day EMA of 0.6482. A break below these levels would weaken the medium- and short-term price momentum and put downward pressure on the pair to return to the descending channel and target the two-month low of 0.6414, recorded on August 21. Further declines would find support near the three-month low of 0.6372, reached on June 23, followed by the descending channel’s lower boundary.AUD/USD: Daily Chart Australian Dollar Price Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the Japanese Yen. USD EUR GBP JPY CAD AUD NZD CHF USD 0.14% 0.15% 0.27% 0.02% 0.06% 0.18% 0.10% EUR -0.14% 0.00% 0.05% -0.16% -0.15% 0.00% -0.08% GBP -0.15% -0.00% 0.10% -0.12% -0.04% 0.04% -0.04% JPY -0.27% -0.05% -0.10% -0.19% -0.20% -0.08% -0.08% CAD -0.02% 0.16% 0.12% 0.19% 0.04% 0.18% 0.08% AUD -0.06% 0.15% 0.04% 0.20% -0.04% 0.15% 0.06% NZD -0.18% -0.00% -0.04% 0.08% -0.18% -0.15% -0.08% CHF -0.10% 0.08% 0.04% 0.08% -0.08% -0.06% 0.08% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Economic Indicator Monthly Consumer Price Index (YoY) The Monthly Consumer Price Index (CPI), released by the Australian Bureau of Statistics on a monthly basis, measures the changes in the price of a fixed basket of goods and services acquired by household consumers. The indicator was developed to provide inflation data at a higher frequency than the quarterly CPI. The YoY reading compares prices in the reference month to the same month a year earlier. A high reading is seen as bullish for the Australian Dollar (AUD), while a low reading is seen as bearish. Read more. Last release: Wed Aug 27, 2025 01:30 Frequency: Monthly Actual: 2.8% Consensus: 2.3% Previous: 1.9% Source: Australian Bureau of Statistics

05:19 Gold retreats from two-week high, concerns over Fed’s independence might cap its losses
The Gold price (XAU/USD) trades on a negative note during the Asian trading hours on Wednesday. The precious metal retreats from a two-week high of $3,395 amid the profit-taking and modest rebound in the US Dollar (USD).

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Worries over the Fed’s independence might support the Gold price.Traders await the US July PCE inflation report later on Friday for fresh impetus. The Gold price (XAU/USD) trades on a negative note during the Asian trading hours on Wednesday. The precious metal retreats from a two-week high of $3,395 amid the profit-taking and modest rebound in the US Dollar (USD). The potential downside for the yellow metal might be capped amid concerns over the US Federal Reserve’s (Fed) independence as US President Donald Trump doubled down on his efforts to oust a Fed governor. This could boost the Gold price as it is considered a traditional safe-haven asset. Traders will keep an eye on the Russia-Ukraine conflict. Any signs of escalating tensions might lift the Gold price, while a peace deal could undermine the precious metal in the near term. Gold traders brace for the US Personal Consumption Expenditures (PCE) Price Index report for July later on Friday. The headline PCE is expected to show an increase of 2.6% YoY in July, while the core PCE is projected to show a rise of 2.9% YoY during the same report period. The hotter-than-expected inflation could limit the Fed’s ability to lower rates.Daily Digest Market Movers: Gold price loses ground despite concerns about the future of Fed independenceDonald Trump said on Tuesday that he will soon have a “majority” of his own nominees on the Fed board of governors who will back his desire to cut the interest rates. In response, Fed Governor Lisa Cook said Trump has no authority to fire her from the central bank, and she will not resign. Trump said he was ready for a legal fight with Cook after he moved to oust her from her post following allegations that she falsified mortgage documents, per Bloomberg."Overnight you had the news that Trump fired one of the Fed governors accused of mortgage fraud. It gave a little life to gold because the Fed's kind of been the driver in gold right now," said RJO Futures market strategist Bob Haberkorn.Last week, Fed Chair Jerome Powell signalled a possible interest rate cut at the US central bank's meeting in September, saying that risks to the job market were rising.Traders are now pricing in nearly an 85% chance for a cut of at least a quarter-point at the Fed’s September meeting, up from 75% last week, according to the CME FedWatch tool.Gold clings to a bullish stance in the longer term despite profit-takingThe Gold price edges lower on the day. Technically, the constructive outlook of the precious metal remains in play, with the price holding above the key 100-day Exponential Moving Average (EMA) on the daily chart. The path of least resistance is to the upside, as the 14-day Relative Strength Index (RSI) stands above the midline near 56.80. This indicates bullish momentum in the near term.The crucial resistance level for Gold emerges in the $3,400-3,410 zone, representing the psychological level, the upper boundary of the Bollinger Band, and the high of August 8. A run of green candles and steady trading above the mentioned level could open the door for a move toward $3,439, the high of July 23. The additional upside filter to watch is $3,500, the round figure, and the high of April 22. On the flip side, if the XAU/USD continues to draw in sellers and more red candlesticks show up, the price could head right back to $3,325, the low of August 21. Sustained trading below this level could expose $3,200, the lower limit of the Bollinger Band and round mark. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

04:36 USD/JPY trades above 147.50, upside capped by Fed concerns
USD/JPY recovers its recent losses from the previous session, trading around 147.60 during the Asian hours on Wednesday. However, the upside of the pair could be restrained as the US Dollar (USD) may struggle amid rising concerns over Federal Reserve (Fed) independence.

04:32 PBOC sets USD/CNY reference rate at 7.1108 vs. 7.1161 previous
On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1108 as compared to the previous day's fix of 7.1188 and 7.1559 Reuters estimate.

04:30 Australia Construction Work Done above expectations (0.8%) in 2Q: Actual (3%)
Australia Construction Work Done above expectations (0.8%) in 2Q: Actual (3%)

03:47 US President Donald Trump says he’s prepared for fight as Cook vows to sue — Bloomberg
US President Donald Trump said he was ready for a legal fight with Federal Reserve (Fed) Governor Lisa Cook after he moved to oust her from her post following allegations that she falsified mortgage documents, Bloomberg reported late Tuesday.

03:43 Australia Westpac Leading Index (MoM): 0.1% (July) vs -0.03%
Australia Westpac Leading Index (MoM): 0.1% (July) vs -0.03%

03:26 NZD/USD flat lines near 0.5850 on worries over Fed’s independence
The NZD/USD pair holds steady near 0.5860 during the early Asian session on Wednesday. Rising concerns over the Federal Reserve’s (Fed) independence could weigh on the US Dollar (USD) against the New Zealand Dollar (NZD).

02:37 GBP/USD churns chart paper near key figures ahead of quiet session
GBP/USD rebounded from early-week losses on Tuesday, bouncing back up from a fresh technical floor near the 1.3450 level. Cable has been drifting within familiar technical levels as broad-market investor sentiment grinds to a halt ahead of key US economic figures.

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Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

02:34 When is the Australian CPI inflation and how could it affect AUD/USD?
The Australian Bureau of Statistics (ABS) will publish its monthly Consumer Price Index (CPI) report for July on Wednesday at 01.30 GMT. The monthly CPI is expected to show an increase of 2.3% year-over-year (YoY) in July, compared to a 1.9% figure reported in June.

02:03 USD/CAD weakens below 1.3850 amid renewed concerns over Fed's independence
The USD/CAD pair loses ground to near 1.3835 during the early Asian session on Wednesday. The US Dollar (USD) weakens against the Canadian dollar (CAD) amid fears over the Federal Reserve’s (Fed) independence after US President Donald Trump announced he was firing a Fed Governor Lisa Cook.

01:23 USD/JPY continues sideways grind ahead of key data
USD/JPY eased slightly on Tuesday, backsliding around one-quarter of one percent and keeping the pair hobbled just below the 148.00 handle.

01:19 Ireland Consumer Confidence climbed from previous 59.1 to 61.1 in August
Ireland Consumer Confidence climbed from previous 59.1 to 61.1 in August

01:18 South Korea BOK Manufacturing BSI: 70 (September) vs 68
South Korea BOK Manufacturing BSI: 70 (September) vs 68

01:03 AUD/USD holds steady near key technical levels
AUD/USD is holding steady between familiar technical levels after catching a thin bid on Tuesday. US economic releases will take a breather on Wednesday, giving Aussie traders a chance to catch their breath, at least after the next round of Australian Consumer Price Index (CPI) inflation data.

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Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

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17:30 United States EIA Crude Oil Stocks Change registered at -2.392M, below expectations (-2M) in August 22 United States EIA Crude Oil Stocks Change registered at -2.392M, below expectations (-2M) in August 22

15:49 Fed’s Williams: Economy is going through an adjustment process In an interview with CNBC on Wednesday, Federal Reserve Bank of New York President John Williams said that he expects the Gross Domestic Product growth will continue to slow, per Reuters.

15:00 Mexico Trade Balance s/a, $ dipped from previous $0.595B to $0.296B in July Mexico Trade Balance s/a, $ dipped from previous $0.595B to $0.296B in July

15:00 Mexico Trade Balance, $ came in at $-0.017B below forecasts ($0.38B) in July Mexico Trade Balance, $ came in at $-0.017B below forecasts ($0.38B) in July

14:48 EUR is underperforming on broadening political uncertainty – Scotiabank The Euro (EUR) is weak, down 0.5% against the US Dollar (USD) and underperforming the G10 currencies as we head into Wednesday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.

14:39 NZD/USD Likely to trade between 0.5820 and 0.5920 – UOB Group The price action provides no fresh clues; New Zealand Dollar (NZD) is expected to range-trade between 0.5835 and 0.5875.

14:09 GBP/USD: Unclear if there is enough momentum for it to reach 1.3595 – UOB Group The current price movements still appear to be part of a range-trading phase, likely between 1.3450 and 1.3505.

14:00 United States MBA Mortgage Applications climbed from previous -1.4% to -0.5% in August 22 United States MBA Mortgage Applications climbed from previous -1.4% to -0.5% in August 22

13:53 NZD/USD nears multi-month lows at 0.5800 on broad-based US Dollar strength The New Zealand Dollar is struggling on Wednesday against a stronger US Dollar. The pair depreciates about 0.60% so far, reaching weekly lows right above 0.5820 and approaching four-month lows, at 0.5800

13:40 AUD/USD slides to near 0.6470 as US Dollar gains, PCE Inflation in focus The AUD/USD pair falls to near 0.6470 during the European trading session on Wednesday.

13:06 USD/CNH: Guided by fix – OCBC There has been a consistent and deliberate trend of setting the daily CNY fixing rate slightly stronger, but at a measured pace. USD/CNH was last seen at 7.1636 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

12:52 USD/CHF tests intra-week highs at 0.8070 on generalised Dollar strength The US Dollar is outperforming its rivals on Wednesday, unfazed by US President Trump’s attempts to influence the Federal Reserve’s decisions.

12:51 Japan’s Akazawa: Will call for US to issue an executive order to lower reciprocal auto tariffs Japanese Economy Minister and top trade negotiator Ryosei Akazawa made some comments on Wednesday ahead of his visit to the United States (US) for trade negotiations.

12:45 EUR/USD: Watching French political risk – OCBC Euro (EUR) continued to trade restraint.

12:38 EU to propose removing tariffs on US goods to meet Trump's demands – Bloomberg Citing people familiar with the matter, Bloomberg reported on Wednesday that the European Union (EU) is looking to quicken its move to pass the legislation to remove all tariffs on US industrial goods.

12:30 Silver price today: Silver falls, according to FXStreet data Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data.

12:28 GBP: Still good short-term outlook – ING Another indication that French politics is having a limited FX impact is EUR/GBP, which has faced only limited downside pressure since the start of the week, ING’s FX analyst Francesco Pesole notes.

11:57 DXY: 2-way trades likely in the interim – OCBC US Dollar (USD) continued to trade on the backfoot, from news of Trump removing Fed Governor Lisa Cook from her position. DXY last at 98.65 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

11:55 USD/CAD picks up to 1.3850, remains wavering within previous ranges The US Dollar is posting moderate gains against the Loonie on Wednesday.

11:51 Secondary tariffs against India come into force – ING Oil prices were unable to extend their 4-day run of gains, with ICE Brent coming under pressure yesterday to settle 2.3% lower. There was no single catalyst for yesterday’s move.

11:48 EUR: Euro proving resilient to France – ING The Euro (EUR) is not actively trading on the French political turmoil, but it’s likely facing some degree of restraint from it. French equities had another bad day, but what matters is OAT's performance.

11:34 Gold Price Forecast: XAU/USD slips to near $3,380 on resilient US Dollar Gold price (XAU/USD) depreciates after registering more than three-quarters of losses in the previous session, trading around $3,380 per troy ounce during the European hours on Wednesday.

11:17 Indian Rupee sees more downside as US tariffs on India set to kick in The Indian Rupee is expected to see more downside against the US Dollar (USD) as increased tariffs on imports from India to the United States (US) are set to come into effect at 12:01 AM EDT or 09:31 PM IST.

11:05 FX option expiries for Aug 27 NY cut FX option expiries for Aug 27 NY cut at 10:00 Eastern Time via DTCC can be found below.

11:01 Austria UniCredit Bank Manufacturing PMI increased to 49.1 in August from previous 48.2 Austria UniCredit Bank Manufacturing PMI increased to 49.1 in August from previous 48.2

11:00 Switzerland ZEW Survey – Expectations down to -53.8 in August from previous 2.4 Switzerland ZEW Survey – Expectations down to -53.8 in August from previous 2.4

10:51 Pound Sterling trades broadly stable as Trump threatens Fed independence The Pound Sterling (GBP) trades in a tight range around 1.3460 against the US Dollar (USD) during the European trading session on Wednesday.

10:28 Forex Today: US Dollar shows resilience despite Trump-Fed drama Here is what you need to know on Wednesday, August 27:

10:17 NZD/USD holds losses near 0.5850 due to further RBNZ rate cut bets NZD/USD has trimmed its losses from the previous session, trading around 0.5850 during the early European hours on Wednesday.

09:00 Germany GfK Consumer Confidence Survey below forecasts (-21.5) in September: Actual (-23.6) Germany GfK Consumer Confidence Survey below forecasts (-21.5) in September: Actual (-23.6)

07:58 US Dollar Index advances to near 98.50 despite worries over Fed independence The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is recovering its recent losses and trading around 98.50 during the Asian hours on Wednesday.

07:38 India Gold price today: Gold falls, according to FXStreet data Gold prices fell in India on Wednesday, according to data compiled by FXStreet.

07:32 GBP/USD falls to near 1.3450, upside appears on fading BoE rate cut bets GBP/USD retraces its recent gains from the previous session, trading around 1.3450 during the Asian hours on Wednesday.

07:27 Silver Price Forecast: XAG/USD tumbles to near $38.50 as US Dollar rebounds The Silver price (XAG/USD) attracts some sellers to around $38.50 during the Asian trading hours on Wednesday. The white metal retreats from a two-week low due to some profit-taking and a stronger US Dollar (USD).

07:00 USD/CHF consolidates around 0.8050, Fed’s Cook vows to defend her job The USD/CHF pair trades in a tight range around 0.8050 during the Asian trading session on Wednesday.

06:28 WTI hovers around $63.00 ahead of US tariffs on India West Texas Intermediate (WTI) Oil price moves little after registering more than 2% decline in the previous session, trading around $63.10 per troy ounce during the Asian hours on Wednesday.

06:24 EUR/USD ticks down to near 1.1630 amid French political uncertainty The EUR/USD pair edges lower to near 1.1630 during the Asian trading session on Wednesday. The major currency pair faces a slight selling pressure as political uncertainty in France has weighed on the Euro (EUR).

04:32 PBOC sets USD/CNY reference rate at 7.1108 vs. 7.1161 previous On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1108 as compared to the previous day's fix of 7.1188 and 7.1559 Reuters estimate.

04:30 Australia Construction Work Done above expectations (0.8%) in 2Q: Actual (3%) Australia Construction Work Done above expectations (0.8%) in 2Q: Actual (3%)

03:43 Australia Westpac Leading Index (MoM): 0.1% (July) vs -0.03% Australia Westpac Leading Index (MoM): 0.1% (July) vs -0.03%

03:26 NZD/USD flat lines near 0.5850 on worries over Fed’s independence The NZD/USD pair holds steady near 0.5860 during the early Asian session on Wednesday. Rising concerns over the Federal Reserve’s (Fed) independence could weigh on the US Dollar (USD) against the New Zealand Dollar (NZD).

01:23 USD/JPY continues sideways grind ahead of key data USD/JPY eased slightly on Tuesday, backsliding around one-quarter of one percent and keeping the pair hobbled just below the 148.00 handle.

01:19 Ireland Consumer Confidence climbed from previous 59.1 to 61.1 in August Ireland Consumer Confidence climbed from previous 59.1 to 61.1 in August

01:18 South Korea BOK Manufacturing BSI: 70 (September) vs 68 South Korea BOK Manufacturing BSI: 70 (September) vs 68

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