The Bank of Canada (BoC) is widely expected to keep its policy rate unchanged at 2.25% at its Wednesday meeting, effectively extending the pause it signalled back in January.
MUFG’s Derek Halpenny expects the FOMC to keep policy options open, with limited changes to the Summary of Economic Projections and no alteration to the median dot profile. MUFG anticipates balanced Fed communication and subdued FX and rates volatility.
Gold prices fell in India on Wednesday, according to data compiled by FXStreet.
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8909 compared to the previous day's fix of 6.8961 and 6.8798 Reuters estimate.
Russia has been expanding its intelligence sharing and military cooperation with Iran, providing satellite imagery and improved drone technology to aid Tehran’s targeting of US forces in the region, the Wall Street Journal reported on Tuesday.
The AUD/JPY cross posts modest gains around 113.00 during the early European session on Wednesday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) after the Reserve Bank of Australia (RBA) delivers a rate hike and keeps a hawkish tone.
EUR/USD ticks slightly lower after posting gains over the previous two sessions, hovering near 1.1530 during Asian trading hours on Wednesday.
Gold price (XAU/USD) trades on a flat note near the $5,000 psychological level during the early Asian session on Wednesday. Traders are cautious ahead of the US Federal Reserve (Fed) interest rate decision.
Iraq’s oil minister said on Tuesday that the Iraqi government and the Kurdistan Regional Government (KRG) reached an agreement to resume oil exports to Turkey’s Ceyhan energy hub starting on Wednesday, Reuters reported.
Silver (XAG/USD) lacks a firm intraday direction and oscillates in a narrow range during the Asian session on Wednesday as traders opt to wait on the sidelines ahead of the crucial FOMC rate decision.
West Texas Intermediate (WTI) Crude Oil prices struggle to capitalize on the previous day's modest gains and meet with a fresh supply during the Asian session on Wednesday.
The United States military said that it targeted sites along Iran’s coastline near the Strait of Hormuz, one of the world’s most critical energy chokepoints, because Iranian anti-ship missiles posed a risk to international shipping there, Reuters reported on Wednesday.
