Trading news

Gold (XAU/USD) is seen consolidating around the $4,600 mark during the Asian session as traders keenly await the outcome of a two-day FOMC policy meeting, due later this Wednesday.

The EUR/USD pair consolidates around 1.1700, inside Tuesday’s trading range, during the Asian trading session on Wednesday.

EUR/JPY edges lower after three days of gains, trading around 186.80 during the Asian hours on Wednesday. The currency cross declines as the Euro (EUR) struggles amid heightened risk aversion driven by uncertainty over a potential ceasefire in the Middle East.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 98.65 during the Asian trading hours on Wednesday.

The USD/CAD pair seesaws between tepid gains/minor losses, below the 1.3700 mark, during the Asian session on Wednesday amid a combination of diverging forces. The lack of progress in US-Iran peace talks continues to benefit the US Dollar's (USD) reserve currency status and supports spot prices.

The US officials said that President Donald Trump instructed aides to prepare for an extended blockade of Iran, the Wall Street Journal reported on Wednesday.

Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Wednesday that “the first quarter measures of core inflation have remained stable within the target band of 1–3%.”

GBP/USD inches higher after registering little losses in the previous day, trading around 1.3520 during the Asian hours on Wednesday.

The AUD/JPY cross declines to around 114.50 during the early Asian trading hours on Wednesday. The Australian Dollar (AUD) softens against the Japanese Yen (JPY) following the release of the Australian inflation report.

The AUD/USD pair continues with its struggle to conquer the 0.7200 mark and drifts lower following the release of Australian consumer inflation figures during the Asian session on Wednesday.

Australia Quarterly RBA Trimmed Mean CPI (YoY) climbed from previous 3.4% to 3.5% in 1Q

Australia Quarterly Consumer Price Index (QoQ) meets forecasts (1.4%) in 1Q

Australia Quarterly Consumer Price Index (YoY) meets forecasts (4.1%) in 1Q

West Texas Intermediate (WTI) oil price gains ground for the third successive day, trading around $96.90 per barrel during the Asian hours on Wednesday.

Australia Quarterly RBA Trimmed Mean CPI (QoQ) declined to 0.8% in 1Q from previous 0.9%

Australia Quarterly Consumer Price Index (QoQ) below forecasts (1.4%) in 1Q: Actual (1.1%)

Australia Quarterly Consumer Price Index (YoY) above expectations (4.1%) in 1Q: Actual (4.6%)

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8608 compared to the previous day's fix of 6.8589 and 6.8347 Reuters estimate.

Silver (XAG/USD) edges higher during the Asian session on Wednesday, though it lacks follow-through as traders opt to move to the sidelines ahead of the crucial FOMC policy update.

Gold price (XAU/USD) holds steady near $4,600 during the early Asian session on Wednesday. The precious metal steadies as traders await a key Federal Reserve (Fed) interest rate decision later on Wednesday.