Trading news

The NZD/USD pair saw mild losses on Wednesday, retreating to 0.5650 as selling pressure returned after Tuesday’s attempt to regain higher ground.

The Australian Dollar (AUD) extends its sideways consolidation as AUD/USD softens to around 0.6260 in Wednesday’s session, falling 0.30% on the day.

New Zealand Electronic Card Retail Sales (MoM) fell from previous 2% to -1.6% in January

New Zealand Electronic Card Retail Sales (YoY) rose from previous -1% to -0.5% in January

The USD/JPY rallied sharply on Wednesday after a hot US inflation report spurred a jump in the US 10-year Treasury yield, closely correlated with the major.

Gold price recovered some ground late during Wednesday’s North American session.

The Canadian Dollar (CAD) briefly tested a new eight-week peak on Wednesday, pushing USD/CAD to its lowest levels since mid-December.

The US Dollar succumbed to the late selling pressure and faded the post-CPI move to weekly highs, while investors kept digesting Powell’s testimonies and sticky consumer prices in January.

United States Monthly Budget Statement came in at $-129B below forecasts ($-88.1B) in January

The Bank of Canada released its latest Meeting Minutes on Wednesday.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, initially climbed after January’s hotter-than-expected Consumer Price Index (CPI) data but then reversed course.

United States 10-Year Note Auction fell from previous 4.68% to 4.632%

The Mexican Peso (MXN) extended its gains against the US Dollar (USD) for the second consecutive day, unfazed by the jump in inflation in the United States (US), preventing the Federal Reserve (Fed) from easing policy.

EUR/USD clawed back chart paper on Wednesday, rebounding from early losses to reclaim the 1.0400 handle as markets shake off a fresh batch of US inflation figures that broadly accelerated in January.

Federal Reserve (Fed) Bank of Atlanta President added his own soundbites to the noise machine of Fed headlines on Wednesday, noting that despite still-strong labor figures, US inflation continues to remain a sticking point, especially after US Consumer Price Index (CPI) inflation figures ticked higher in January.

The Dow Jones Industrial Average (DJIA) tumbled on Wednesday,dropping over 400 points at its lowest and dipping into 44090.

Bank of England (BoE) policymaker Megan Greene noted on Wednesday that a cautious approach is probably the best approach when it comes to easing monetary policy.

The EUR/USD pair edged higher to 1.0375 on Wednesday, as buyers extended their recent recovery efforts.

United States EIA Crude Oil Stocks Change came in at 4.07M, above expectations (2.8M) in February 7

The Pound Sterling slipped during the North American session after the latest United States (US) inflation report showed that prices continued to rise, pushing back expectations of a Federal Reserve rate cut in the first half of 2025.