Forex News

United Kingdom’s Office for National Statistics will release the December CPI data on Wednesday.

Gold prices remained broadly unchanged in India on Wednesday, according to data compiled by FXStreet.

The Indian Rupee (INR) weakens on Wednesday, pressured by intense demand for the US Dollar (USD).

Gold price (XAU/USD) struggles to capitalize on the previous day's bounce from a one-week low and meets fresh supply during the Asian session on Wednesday.

EUR/JPY trades slightly lower, hovering around 162.60 during Wednesday’s Asian trading session, following a 1% gain in the previous session.

The Japanese Yen (JPY) struggles to gain any meaningful traction and languishes near a multi-month low against its American counterpart amid doubts over the Bank of Japan's (BoJ) rate hike plans.

The Australian Dollar (AUD) holds steady on Wednesday after two consecutive days of gains against the US Dollar (USD).

European Central Bank (ECB) Chief Economist Phillip Lane is speaking at Goldman Sachs' Global Macro conference in Hong Kong on Wednesday.

Silver price (XAG/USD) retraces its recent gains from the previous session, trading around $29.80 per barrel during the Asian hours on Wednesday.

The NZD/USD pair posts modest gains to near 0.5600 on Wednesday during the Asian trading hours.

On Wednesday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1883 as compared to the previous day's fix of 7.1878 and 7.3240 Reuters estimates.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $76.75 on Wednesday.

EUR/USD found enough gas in the tank for an intraday rally on Tuesday, rising over eight-tenths of one percent on the day as Euro bidders hope that a potential accord in France could stave off a total collapse of the European country’s government.

GBP/USD is mired in near-term technical consolidation near the 1.2200 handle as key inflation metrics from the US and UK growth figures loom large through the midweek sessions.

President-elect Donald Trump is preparing executive orders aimed at boosting American fossil fuels ahead of his inauguration next Monday, per the Wall Street Journal.

The USD/CAD pair remains on the defensive around 1.4350 during the early Asian session on Wednesday, pressured by the disappointing US December Producer Price Index (PPI) data.

Gold prices edged higher on Tuesday after data from the United States (US) showed that prices paid by producers cooled off.

The Mexican Peso recovered some ground against the US Dollar on Tuesday after US inflation data suggested that prices paid by producers rose moderately but below economists’ estimates.

The Australian Dollar (AUD) rebounded from 0.6130, its lowest level since April 2020, to reach 0.6180 on Tuesday, buoyed by firm commodity prices and a slight improvement in market sentiment.

The Dow Jones Industrial Average (DJIA) lurched around 150 points higher on Tuesday after Producer Price Index (PPI) inflation printed below median market forecasts.

The US Dollar Index, which measures the value of the USD against a basket of currencies, is on the backfoot after the December Producer Price Index (PPI) was released.

The NZD/USD pair gained modestly on Tuesday, inching up to approximately 0.5600 following a prolonged slump to levels unseen since October 2022.