Equities: Rotation persists as tech sells off – Danske Bank
Danske Research Team reports a sharp global equity selloff led by a more than 4% drop in tech, even as several defensive sectors finished higher.
USD/JPY Price Forecast: Range tightens further at around 161.60
The USD/JPY pair trades in a limited range around 161.60 during the European trading session on Wednesday. The pair consolidates as hawkish Bank of Japan (BoJ) bets are supporting the Japanese Yen (JPY) against the US Dollar’s (USD) continued outperformance.
Japanese Yen: Bears eye 2024 low at 162.00 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/JPY remains in a range-trading phase intraday, projected between 161.20 and 161.80 after a narrow 161.25–161.73 session.
New Zealand Dollar weakens to near 0.5650 on hawkish Fed stance
The NZD/USD pair trades in negative territory for the sixth consecutive day near 0.5655 during the early European trading hours on Wednesday.
AUD/JPY Price Forecast: Weakens below 112.00 on intervention fears, bearish bias below 100-day SMA
The AUD/JPY cross trades in negative territory around 111.70 during the early European trading hours on Wednesday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD) as traders are on high alert for currency intervention from Japanese authorities.
Silver Price Forecast: XAG/USD sees fresh downside leg below $60 amid hawkish Fed bets
Silver price (XAG/USD) posts a fresh over six-month low at $60.74 during the Asian trading session on Wednesday. The white metal faces selling pressure as traders seem confident that the Federal Reserve (Fed) will deliver at least two interest rate cuts this year.
Qatar to resume normal LNG production ‘within a few weeks’ — FT
Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani said that the country would resume normal liquefied natural gas production “within a few weeks”, the Financial Times reported on Wednesday.
EUR/USD Price Forecast: Hits one-year low, eyes 1.1350 as bullish USD offsets oversold RSI
The EUR/USD pair drifts lower for the third straight day – also marking the fifth day of a negative move in the previous six – and drops to over a one-year low during the Asian session on Wednesday.
EUR/JPY Price Forecast: Tests symmetrical triangle bottom near 183.50
EUR/JPY extends its losses for the third successive day, trading around 183.60 during the Asian hours on Wednesday.
India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Wednesday, according to data compiled by FXStreet.
Australian Dollar struggles near April lows vs firmer USD as bears await 0.6900 break
The AUD/USD pair turns lower for the third straight day following a modest Asian session uptick to the 0.6920-0.6925 area and drops to a fresh low since April 7 on Wednesday.
British Pound extends the decline below 1.3200 on UK political instability concerns
The GBP/USD pair loses traction to around 1.3195 during the early European trading hours on Wednesday. The British Pound (GBP) softens against the US Dollar (USD) amid political instability following Keir Starmer’s resignation as Prime Minister.