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WTI Price Forecast: Eyes further losses near $88.50, two-week low amid easing supply risk
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – retains a negative bias for the fifth straight day on Wednesday, flirting with an over two-week low touched on Tuesday.
USD/IDR Price Forecast: Falls toward moving averages near 17,800 ahead of BI decision
USD/IDR extends its losses for the second successive day, trading around 17,820 during Asian hours on Wednesday. Technical analysis of the daily chart suggests the pair remains within the ascending channel, indicating an ongoing bullish bias.
Gold approaches $4,300 as Fed hike bets boost USD to fresh high since late July
Gold (XAU/USD) extends its steady intraday slide through the first half of the European session on Wednesday, reversing a part of the previous day's recovery from sub-$4,300 levels.
United States Dollar Index jumps to near 100.70 as Fed maintains hawkish rhetoric
The US Dollar reflects strength on Wednesday amid firm expectations that the Federal Reserve (Fed) will deliver more interest rate hikes this year.
Asian stocks trade mixed, Taiwan’s Taiex leads on tech boost
Asian equities trade mixed on Wednesday. Oil prices and Treasury yields dropped as crude flows through the Middle East improved, adding to risk appetite.
Silver Price Forecast: XAG/USD falls to near $66.50 as Fed signals further rate hikes
Silver price (XAG/USD) depreciates after registering gains the previous day, trading around $66.50 per troy ounce during Asian hours on Wednesday. Non-yielding Silver faces challenges due to the Federal Reserve's hawkish monetary policy outlook.
Japanese Yen softens on BoJ's lack of hawkish guidance, potential intervention eyed
The USD/JPY pair gathers strength to around 157.60 during the early Asian trading hours on Wednesday. The Japanese Yen (JPY) extends the decline due to a lack of explicitly hawkish guidance from the Bank of Japan (BoJ) after the rate hike last week.
Canadian Dollar seems vulnerable as Iran diplomacy hopes weigh on oil prices
The USD/CAD pair attracts buyers for the third straight day and trades around the 1.4070-1.4075 area during the Asian session on Wednesday, near its highest level since July 29, touched the previous day.
Australian Dollar remains under pressure as PMI slows
AUD/USD loses ground for the third consecutive day, trading around 0.7110 during Asian hours on Wednesday.
Euro weakens below 1.1450 on hawkish Fed signals, German political risks
The EUR/USD pair loses ground to near 1.1445 during the early Asian trading hours on Wednesday. The US Dollar (USD) strengthens against the Euro (EUR) on the hawkish stance of the US Federal Reserve (Fed) and the prospect of further interest rate hikes.
PBOC sets USD/CNY reference rate at 6.7468 vs. 6.7459 previous
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7468 compared to the previous day's fix of 6.7459 and 6.6971 Reuters estimate.
British Pound hangs near late July lows vs USD; looks to UK/US PMIs for fresh impetus
The GBP/USD pair struggles to build on the previous day's modest bounce from the 1.3320 area, or its lowest since July 29, and sticks to a negative bias for the third straight day on Wednesday.
US Special Envoy Witkoff says mediators completed round of US-Iran talks
United States (US) Special Envoy to the Middle East, Steve Witkoff, said the US held "lengthy" indirect talks with the Iranian delegation via mediators on the sidelines of the United Nations General Assembly (UNGA), Reuters reported on Tuesday.