EUR/USD
The EUR/USD pair trades on a negative note near 1.1410 during the early European trading hours on Wednesday. Cooling inflation in Germany has lowered expectations for the European Central Bank (ECB) rate hikes, weighing on the Euro (EUR) against the US Dollar (USD).
GBP/USD
The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England (BoE) Governor Andrew Bailey and Federal Reserve (Fed) Chair Kevin Warsh for a fresh impetus.
USD/JPY
The USD/JPY pair trades 0.1% higher to near 162.73 during the European trading session on Wednesday. The pair reflects strength as surging United States (US) Treasury Yields have strengthened the US Dollar (USD).
AUD/USD
The Australian Dollar (AUD) is down against its major currency peers, trading 0.45% lower to near 0.6890 against the US Dollar (USD) during the European trading session on Wednesday. The antipodean faces intense selling pressure as the market sentiment turns risk-averse due to surging United States (US) Treasury Yields.
NZD/USD
The NZD/USD pair holds negative ground near 0.5665 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) remains weak against the US Dollar (USD) following the Chinese economic data. The US ISM Manufacturing Purchasing Managers Index (PMI) report will be released later on Wednesday. On Thursday, the attention will shift to the US jobs data for June.
USD/CAD
USD/CAD has recovered its recent losses from the previous day, trading around 1.4220 during the Asian hours on Wednesday. The pair appreciates as the US Dollar (USD) gains ground on safe-haven demand amid uncertainty over United States (US)-Iran Doha talks.
USD/CHF
USD/CHF gains ground for the second consecutive day, trading around 0.8090 during the Asian hours on Wednesday. Traders will likely observe the upcoming Swiss Real Retail Sales and SVME Purchasing Managers’ Index (PMI) data due later in the day.
CRUDE OIL
Oil prices rose on Wednesday on concerns breakdowns in discussions between Iran and the U.S. for a final agreement to end their war may extend supply disruptions in the key Middle East producing region.
Gold (XAU/USD) maintains its offered tone for the third straight day and trades below the $4,000 psychological mark heading into the European session on Wednesday. The precious metal remains well within striking distance of its lowest level since November 2025, set on Tuesday. Moreover, a bullish US Dollar (USD), bolstered by uncertainty over US-Iran talks and Federal Reserve (Fed) rate-hike bets, suggests that the path of least resistance for the bullion is to the downside.
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