Trading news

The EUR/USD pair attracts some sellers to near 1.0900, snapping the three-day winning streak during the Asian trading hours on Wednesday.

USD/CAD maintains its gains after a previous session of losses, trading around 1.4440 during Asian hours on Wednesday.

Silver price (XAG/USD) loses ground after registering gains in the previous session, trading around $32.80 during the Asian hours on Wednesday.

The GBP/USD pair edges lower during the Asian session on Wednesday and erodes a part of the previous day's strong move up to over a four-month peak, around the 1.2965 area.

The United States (US) Bureau of Labor Statistics (BLS) is set to publish the high-impact Consumer Price Index (CPI) inflation report for February on Wednesday at 12:30 GMT.

The Japanese Yen (JPY) continues losing ground against its American counterpart for the second straight day on Wednesday and moves away from the highest level since October touched the previous day.

The Indian Rupee (INR) rebounds on Wednesday. The potential foreign exchange intervention from the Reserve Bank of India (RBI) and strong Asian currencies, especially the offshore Chinese Yuan provide some support to the Indian currency.

NZD/USD edges lower after registering gains in the previous session, trading around 0.5710 during the Asian hours on Wednesday.

Australia’s Prime Minister (PM) Albanese said on Wednesday that “retaliatory measures would only increase costs for Australian consumers and fuel inflation.” PM Albanese confirmed that “Australia will not impose reciprocal tariffs on the United States (US).” His comments come after US President Donald Trump proceeded with 25% tariffs on all imported steel and aluminium.

On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1696 as compared to the previous day's fix of 7.1741 and 7.2324 Reuters estimates.

The Australian Dollar (AUD) weakens against the US Dollar (USD) on Wednesday, weighed down by broad risk aversion.

Japan’s largest companies are expected to offer substantial wage hikes for a third consecutive year, helping workers cope with inflation and retain staff amid labour shortages, per Reuters.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.25 during the early Asian session on Wednesday.

Bank of Japan Governor Kazuo Ueda said early Wednesday that it is natural for long-term rates to shift in line with the market view on the outlook for short-term policy rates.

Ukrainian President Volodymyr Zelensky said late Tuesday that Ukraine agreed to a 30-day ceasefire proposed by the United States if Russia accepts the plan, following critical peace talks between US and Ukrainian officials in Saudi Arabia, per CNN.

Japan BSI Large Manufacturing Conditions Index (QoQ) came in at -2.4, below expectations (6.5) in 1Q

Japan Producer Price Index (MoM) above expectations (-0.1%) in February: Actual (0%)

Japan Producer Price Index (YoY) meets expectations (4%) in February

Canada’s Energy Minister Jonathan Wilkinson said late Tuesday that the country may impose non-tariff measures, including restrictions on oil exports to the United States if trade tensions with Washington escalate further.

EUR/USD bidders found the gas pedal on Tuesday, bolstering Fiber further and sending the pair back into the 1.0950 level, albeit briefly.