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USD/CHF Price Forecast: Bulls retake control, eye 0.8300 break
The USD/CHF pair climbs some 0.5% on Wednesday as the uptrend resumes following a retracement after hitting a yearly high on September 16 at 0.8263, which dragged the exchange rate below 0.8200, before recovering some ground. At the time of writing, the pair trades at 0.8244.
United States 5-Year Note Auction: 5.033% vs 4.393%
United States 5-Year Note Auction: 5.033% vs 4.393%
Gold buckles as 5% yields and Fed hawks take control
Gold sank by over 1.5% during the North American session on Wednesday as investors grew confident that the Federal Reserve (Fed) would raise rates at the October meeting. That confidence stems from hawkish remarks made by several officials.
Silver Price Forecast: Fed hawks knock XAG/USD toward $64 support
Silver (XAG/USD) price tumbles over 3.67% on Wednesday as investors increase Federal Reserve (Fed)-hawkish bets, following remarks by several officials supporting last week’s rate hike and penciling in further tightening. XAG/USD trades at $64.59, after reaching a high of $67.52.
Forex Today: Australia’s jobs report comes to the fore
There was no respite for the US Dollar’s (USD) march north on Wednesday. In fact, the Greenback has clinched its third consecutive day of gains, hitting at the same time fresh two-month highs.
Japanese Yen declines as upbeat US PMI lifts the US Dollar and yields
The Japanese Yen (JPY) extends its decline against the US Dollar (USD) on Wednesday, with USD/JPY climbing to a three-week high as the hawkish Federal Reserve (Fed) outlook keeps the Greenback in demand. At the time of writing, the pair trades around 158.18, up 0.50% on the day.
US 10-year yield hits a 19-year high as Fed Governor Barr backs hikes
Federal Reserve (Fed) Governor Michael Barr made on Wednesday the case for more rate increases, saying the risks to getting inflation back to 2% have grown while the risks to jobs have eased.
Dow Jones Industrial Average keeps sliding as yields climb on a strong PMI
The strongest S&P Global flash Purchasing Managers Index (PMI) readings since 2021 have done nothing for the Dow Jones Industrial Average. Manufacturing came in at 57 against a 53.5 forecast and services at 58.7 against 56.
New Zealand Dollar tumbles as strong US PMI data lifts USD
NZD/USD tumbles on Wednesday, losing 1% to trade around 0.5670 at the time of writing. The pair faces strong selling pressure as the US Dollar (USD) benefits from stronger-than-expected United States (US) activity data, reinforcing expectations of further interest-rate hikes.
British Pound cracks as US growth burst boosts USD
The Pound Sterling (GBP) tanks over 0.70% against the Greenback on Wednesday as US economic data showed business activity is picking up, while fears of a US diesel export ban pushed crude prices higher. The GBP/USD pair trades at 1.3253, its lowest level since July 1.
Russia Industrial Output below forecasts (0.5%) in August: Actual (-0.6%)
Russia Industrial Output below forecasts (0.5%) in August: Actual (-0.6%)
WTI snaps five-day losing streak as US-Iran talks fall short of breakthrough
West Texas Intermediate (WTI) Oil rebounds on Wednesday after five straight days of losses as traders assess the latest Middle East developments and US inventory data.
Iran reviews US response to proposal aimed at ending hostilities – Reuters
Iran is reviewing the United States’ (US) response to its proposal aimed at ending hostilities, a senior Iranian official told Reuters on Wednesday, signaling that diplomatic efforts between Tehran and Washington remain underway.