Increasing momentum suggests further upside pressure; the major resistance at 0.6555 is likely out of reach. In the longer run, bias remains on the upside, but it remains to be seen if AUD can break clearly above 0.6555, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The Australian Dollar is trading lower on Wednesday, retracing Tuesday’s gains as the frail enthusiasm about an alleged trade deal between the US and China faded, with markets turning cautious ahead of the release of US Inflation data.US and China seem to have reached a deal to ease restrictions on
A Japanese cabinet official quotes Bank of Japan (BoJ) Governor Kazuo Ueda on Wednesday as the central bank chief attended the meeting on the monthly economic report.
Following the US-China trade talks in London, Chinese Vice Premier He Lifeng said on Wednesday that “China's stance on trade issues with the US is clear and consistent.”
EUR/CAD recovers its recent losses, trading around 1.5640 during the European hours on Wednesday. Technical analysis on the daily chart points to the potential weakening of a bearish bias, with the currency cross hovering near the upper boundary of the descending channel.
Further Pound Sterling (GBP) weakness is not ruled out against US Dollar (USD); oversold conditions suggest any decline may be limited to a retest of the 1.3460 level.
This week’s moves are almost entirely driven by US-related events. The only Euro input comes from scheduled ECB speeches, which so far have reinforced the less dovish tone set by President Christine Lagarde last week, ING's FX analyst Francesco Pesole notes.
The Energy Information Administration (EIA) revised its US crude Oil production estimates downward for 2026. In its latest Short-Term Energy Outlook, released yesterday, the EIA said output would decline by 50k b/d year on year in 2026 to 13.37m b/d.
There has been no increase in either downward or upward momentum; Euro (EUR) is likely to trade in a range of 1.1385/1.1460. In the longer run, EUR appears to have entered a range trading phase between 1.1330 and 1.1495, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
European Central Bank (ECB) policymaker Martins Kazaks said on Wednesday, “quite likely keeping 2% inflation will require some further cuts for fine tuning.”
Brokers Still Paying the Price . The internet is full of so-called business gurus peddling solutions to the ‘being busy is no good if you can't get paid’ dilemma.
Silver price (XAG/USD) trades in a tight range around $36.50 during European trading hours on Wednesday. The white metal consolidates as investors await the United States (US) Consumer Price Index (CPI) data for May, which will be published at 12:30 GMT.
EUR/USD has retraced previous losses during the early European session and is trading at 1.1435 at the moment of writing, nearing the top of the recent range, at 1.1455. The US Dollar has given away all the ground taken on the back of news about a Sino-US agreement to reduce trade tariffs.The deal,
GBP/JPY remains subdued for the third consecutive day, trading around 195.60 during the early European hours on Wednesday. However, the currency cross maintains its position near a five-month high of 196.45, which was recorded on Tuesday, with hopes of further gains.
Ethereum ( ETH ) price has captured the attention of retail traders worldwide as the world's second-largest cryptocurrency breaks through critical resistance levels.
Oil prices are showing a moderate reversal on Wednesday, as the vague news about the US-China trade deal has been taken with more scepticism than enthusiasm.
Citing people familiar with the matter, Bloomberg reported on Wednesday that the European Union (EU) believes trade negotiations with the United States (US) to extend beyond President Donald Trump’s July 9 deadline.
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