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US President Trump pins Iran endgame on midterms, open to talks
US President Donald Trump crossed the wires on Wednesday, saying that the Iran war will end “immediately” right after the US midterm elections. He said that Iranians are “desperate to try and affect the election,” told to reporters before leaving for the Republican National Convention in Dallas.
GBP/JPY Price Forecast: Bears Eye 207.00 as downtrend holds
GBP/JPY falls for the third straight day on Wednesday, but it fails to register a lower low, suggesting buyers are stepping in but lack the strength to push the exchange rate past the opening price, leaving the pair near this week's lows. The cross-pair trades at 208.05, down 0.22%.
South Korean Won: Gains seen moderating after sharp repricing – DBS
DBS Group Research’s Chang Wei Liang notes that USD/KRW has fallen toward 1340 in a steady decline since late June, reflecting earlier optimism on the Korean Won from a booming memory sector and strong investment plans.
NZD/USD Price Forecast: SMA cluster wobbles as US yields bite
The New Zealand Dollar (NZD) extends its losses against the US Dollar (USD), down 0.30% on Wednesday as the Greenback gets underpinned by rising US Treasury yields, with the 10-year reaching its highest level since 2023. The NZD/USD pair trades at 0.5835.
Chinese Yuan: Uptrend intact with muted inflation against US Dollar – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports that USD/CNH continues to drift lower to its weakest level since January 2023 as China’s August Consumer Price Index (CPI) rose modestly while overall inflation remains subdued.
Mexican Peso holds firm as inflation cools, fiscal plan lands
The Mexican Peso (MXN) clings to gains against the US Dollar (USD) on Wednesday following the presentation of Mexico’s government fiscal package in Congress, while traders await the release of US inflation data. The USD/MXN pair trades at 16.89, down 0.09% near yearly lows.
Crude Oil rallies into 14-week highs as US and Iran spend the week attacking tankers
West Texas Intermediate (WTI) settled just above $94.00, up better than 2% and at its best level since May 22.
Taiwan Dollar: Range trade expected after CPI surprise against US Dollar – Commerzbank
Commerzbank highlights that Taiwan’s August CPI undershot expectations due to favourable food base effects, but core inflation remains above the CBC’s forecast. The bank sees scope for a modest rate hike as growth stays robust and inflation risks persist.
Chile: Policy pause reflects fragile growth – Societe Generale
Societe Generale’s Dev Ashish reports that the Central Bank of Chile kept the monetary policy rate at 4.50% in September, as weak domestic growth offsets rising external inflation risks. The bank highlights disappointing activity, deteriorating labour markets and anchored inflation expectations.
Silver Price Forecast: Rally puts head-and-shoulders pattern on ice
Silver (XAG/USD) price makes a U-turn on Wednesday and rises over 3.40% as the Greenback weakens, putting the confirmation of a ‘head-and-shoulders’ chart pattern on hold, which has formed since mid-August. The XAG/USD pair trades at $68.00 after rebounding off $65.31.
EUR/USD Price Forecast: Buyers seek a decisive break above the 200-day SMA
EUR/USD struggles to extend its earlier gains on Wednesday as the US Treasury’s bond-buyback announcement sparks a brief bout of volatility, pushing Treasury yields higher and helping the US Dollar (USD) trim its losses.
Forex Today: Attention shifts to the ECB and US PPI
The US Dollar (USD) navigated a bearish range on Wednesday, gathering some pace soon after the US Treasury announced a buyback of up to $6 billion in 10- to 20-year T-bonds.
United States 10-Year Note Auction up to 4.834% from previous 4.683%
United States 10-Year Note Auction up to 4.834% from previous 4.683%