The AUD/JPY cross attracts some sellers during the Asian session on Wednesday, and for now, it seems to have snapped a two-day winning streak to the 95.65 area, or a nearly two-month high touched the previous day.
The USD/CHF pair continues to lose ground for the second consecutive day, trading near 0.8390 during Wednesday’s Asian session. Downside risks appear limited, as growing expectations of further monetary easing by the Swiss National Bank (SNB) weaken the Swiss Franc (CHF).
Citing industry sources familiar with the matter, Reuters reported on Wednesday that China has granted its first rare earth export permits since adding restrictions last month.
The EUR/USD pair gains ground to around 1.1195 during the Asian trading hours on Wednesday. The US Dollar (USD) weakens against the Euro (EUR) after the cooler-than-expected US April inflation data.
Silver (XAG/USD) extends the previous day's retracement slide from the $33.20-$33.25 resistance zone and attracts some follow-through selling during the Asian session on Wednesday.
Gold price (XAU/USD) remains depressed through the first half of the European session on Wednesday, though it manages to hold above the #3,200 round-figure mark or the weekly through.
The NZD/USD pair advanced for the second consecutive session, hovering around 0.5940 during Wednesday’s Asian trading hours. The pair strengthened as the US Dollar (USD) came under pressure following softer-than-expected US inflation figures.
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, remains subdued for a second consecutive day, hovering around 100.90 during Wednesday’s Asian session. The Greenback weakened following softer-than-expected US inflation data.
The Indian Rupee (INR) gathers strength on Wednesday on the back of the US-China trade agreement and a ceasefire agreement between India and Pakistan. Analysts said that any fresh developments on the geopolitical front are likely to significantly influence the INR’s trajectory in the near term.
The Japanese Yen (JPY) retains its positive bias for the second straight day against a softer US Dollar (USD), with the USD/JPY pair trading near the 147.00 mark or the daily low heading into the European session on Wednesday.
The Australian Dollar (AUD) extends its gains against the US Dollar (USD) on Wednesday after registering more than 1.50% gains in the previous session. The AUD/USD pair strengthened as the US Dollar weakened following softer-than-expected US inflation data.
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.1956 as compared to the previous day's fix of 7.1991 and 7.1813 Reuters estimate.
The Gold price (XAU/USD) trades in negative territory around $3,245 during the early Asian session on Wednesday. Improved risk appetite in the financial markets due to a tariff deal between the United States (US) and China weighs on the yellow metal, a safe-haven asset.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.25 during the Asian trading hours on Wednesday. The WTI price extends its upside amid easing trade tensions between the United States (US) and China, which prompt traders to dial back odds of a recession.
"The Boeing 747 is being given to the United States Air Force/Department of Defense, NOT TO ME! It is a gift from a Nation, Qatar, that we have successfully defended for many years. It will be used by our Government as a temporary Air Force One"
Silver price edged up 0.95% on Tuesday as the Greenback finished the session below the 101.00 figure, according to the US Dollar Index (DXY), which tracks the performance of the buck’s value against a basket of six currencies.
The USD/CAD pair weakens to near 1.3925 during the early Asian session on Wednesday. The US Dollar (USD) edges lower against the Canadian Dollar (CAD) after inflation data came in below market expectations.
EUR/USD rose on Tuesday, clawing back most of the week’s starting losses. The pair is now testing back into the 1.1200 handle, thanks to a general broad-market weakening in the Greenback than any particular bullish momentum bootstrapping Euro market flows.
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