Trading news

The Japanese Yen (JPY) weakens across the board during the Asian session on Wednesday as the optimism over the US-China trade talks is seen undermining demand for traditional safe-haven assets.

USD/CAD is recovering its losses registered in the previous session, trading around 1.3790 during the Asian hours on Wednesday.

The Indian Rupee (INR) loses ground against the US Dollar (USD) during Wednesday's Asian trading session.

The NZD/USD pair retreats following an Asian session uptick to the 0.6020-0.6025 area, or over a two-week high, and for now, seems to have snapped a three-day winning streak.

Gold price (XAU/USD) attracts heavy selling during the Asian session on Wednesday and snaps a two-day winning streak to a two-week high, around the $3,434-3,435 region touched the previous day.

The head of the China Securities Regulatory Commission (CSRC) said on Wednesday, “US tariff policy has brought great pressure to China's capital markets.”

Following a meeting with the People's Bank of China (PBOC), China Securities Regulatory Commission, National Financial Regulatory Authority, the Chinese central bank Governor Pan Gosheng announces interest rates cuts.

The AUD/USD pair continues its upward momentum for the fourth consecutive session, hovering around the 0.6510 mark during Wednesday’s Asian trading hours. The Australian Dollar (AUD) finds support from releasing domestic mid-tier economic data and improving global trade sentiment.

The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.2005 as compared to the previous day's fix of 7.2008 and 7.2124 Reuters estimate.

Japan Jibun Bank Services PMI above forecasts (52.2) in April: Actual (52.4)

EUR/USD muddled through Tuesday’s market action, marking out a fresh near-term consolidation range near the 1.1300 major handle as Fiber traders wait for a reason to move.

GBP/USD rose on Tuesday, climbing four-tenths of one percent on the day and testing the 1.3400 handle on headlines of a possible US-UK trade deal that would see the UK avoid the brunt of trade tariffs being actively pursued by the Trump administration.

Gold rallied to a two-week peak on Tuesday as the Chinese markets resumed operations following a long weekend holiday and concerns about US trade policies. Geopolitical risks also boosted the precious  metal, with a new conflict emerging between Pakistan and India.

New Zealand Labour Cost Index (YoY) below expectations (2.7%) in 1Q: Actual (2.5%)

New Zealand Participation Rate below forecasts (71%) in 1Q: Actual (70.8%)

New Zealand Employment Change meets forecasts (0.1%) in 1Q

New Zealand Unemployment Rate came in at 5.1%, below expectations (5.3%) in 1Q

New Zealand Labour Cost Index (QoQ) came in at 0.4%, below expectations (0.5%) in 1Q

The AUD/NZD pair edged lower on Tuesday, trading near the 1.0800 zone after a steady decline through the European session. Price action remained confined within the day’s range, but the downside drift highlights the underlying bearish tone as the pair approaches the Asian session.

USD/JPY is trading weaker on Tuesday, hovering in the 142.00 area as safe-haven demand strengthens the Japanese Yen.