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UK CPI is expected to tick up, endorsing BoE hawks' positions
The United Kingdom (UK) June Consumer Price Index (CPI) is scheduled for release on Wednesday at 06:00 GMT. The report, released by the Office for National Statistics (ONS), is closely watched amid the potential impact of inflation data on the Bank of England (BoE) monetary policy decisions.
Australian Dollar remains weaker following China's interest rate decision
The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Wednesday, extending its losses for the third consecutive session.
NZD/USD falls to near 0.5850 as RBNZ delivers a quarter basis point rate cut
NZD/USD extends its losses for the third successive session, trading around 0.5850 during the Asian hours on Wednesday. The pair depreciates following the interest rate decision by the Reserve Bank of New Zealand (RBNZ).
US Dollar Index strengthens above 98.00 ahead of FOMC Minutes
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades on a stronger note around 98.30 during the Asian trading hours on Wednesday.
PBOC sets USD/CNY reference rate at 7.1384 vs. 7.1359 previous
On Wednesday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1384 as compared to the previous day's fix of 7.1359 and 7.1897 Reuters estimate.
PBOC leaves Loan Prime Rates unchanged in August
The People's Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Wednesday. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively.
WTI drifts lower to near $62.00 on talks to end Russian invasion of Ukraine
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.05 during the early Asian trading hours on Wednesday. The WTI edges lower on the prospect of peace in Ukraine after the end of talks between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy.
White House says Russia-Ukraine meeting plans are underway following Trump meetings
White House press secretary Karoline Leavitt said that plans for a bilateral meeting between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy are now underway, CNN reported on Tuesday.
US Treasury Sec. Bessent: Status quo with China is working very well
US Treasury Secretary Scott Bessent said late Monday that the talks between the United States (US) and China are going well, adding that he expects US growth to pick up in the fourth quarter (Q4).
GBP/USD eases ahead of bloated data docket
GBP/USD eased lower on Tuesday, edging back below 1.3500 as Cable traders await a reason to make a move. The trading week opened up with little of note on the economic data docket, leaving markets to react to headline flows that remained constrained.
USD/CAD posts modest gains above 1.3850 as Canadian CPI data raises odds of BoC rate cut
The USD/CAD pair posts modest gains near 1.3870 during the early Asian session on Wednesday. The Canadian Dollar (CAD) weakens against the US Dollar (USD) as cooler Canadian inflation data raised expectations that the Bank of Canada (BoC) would cut interest rates in the coming months.
USD/JPY Price Forecast: To remain sideways ahead of Powell's Jackson Hole speech
USD/JPY consolidated during Tuesday's session, ending the day with minimal losses of 0.14%, with the pair trading near familiar levels, below the 20-day Simple Moving Average (SMA) at 147.86. At the time of writing, the pair trades at 147.61, virtually unchanged as Wednesday's Asian session begins.
EUR/USD steadies below 1.1650 as markets await Powell's Jackson Hole speech
EUR/USD consolidates during the North American session above the 1.1600 figure as traders await the Federal Reserve (Fed) Chair Jerome Powell's speech at Jackson Hole, alongside the outcome of the Ukraine-Russia conflict solution. The pair trades at around 1.1640, down 0.12% at the time of writing.
RBNZ expected to resume interest rate easing path
The Reserve Bank of New Zealand (RBNZ) is widely expected to lower the Official Cash Rate (OCR) from 3.25% to 3% when the board members conclude the August monetary policy meeting on Wednesday.
Canadian Dollar weakens after Canadian CPI eases faster than expected
The Canadian Dollar (CAD) shed further weight on Tuesday, declining against the US Dollar (USD) after Canadian Consumer Price Index (CPI) inflation figures showed a slight easing in headline figures.
AUD/USD Price Forecast: Australian Dollar slips to two-week low, eyes break below 0.6450
The Australian Dollar (AUD) weakens against the US Dollar (USD) on Tuesday, with AUD/USD slipping to its lowest level in two weeks.
Forex Today: The FOMC Minutes and UK inflation in the spotlight
The US Dollar (USD) had a positive day on Tuesday, as traders remained cautious ahead of the release of the FOMC Minutes on Wednesday and the pivotal Jackson Hole Symposium later this week. Furthermore, geopolitics has returned to the forefront of price action drivers.
Gold slumps on geopolitical developments, strong Dollar ahead of Powell's speech
Gold price tumbles on Tuesday as the Greenback extends its minimal gains for the second straight day, while geopolitical developments suggest that a positive outcome of the US President Trump meeting with Putin, Zelenskiy and European leaders could put an end to the ongoing war.
New Zealand Dollar dips with RBNZ cut in focus, Fed minutes on deck
The New Zealand Dollar (NZD) weakens against the US Dollar (USD) on Tuesday, as traders reposition ahead of key macro catalysts, including the release of the Federal Reserve's July meeting minutes and the Jackson Hole Symposium later this week.
Dow Jones Industrial Average grapples with fizzling tech rally
The Dow Jones Industrial Average (DJIA) flubbed an early rise on Tuesday, jumping higher before backsliding through the rest of the day, erasing the early morning gains.
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