외환거래 뉴스 타임라인

08:06 USD/CAD Price Forecast: Hangs near two-week low, seems vulnerable around 1.3600
The USD/CAD pair enters a bearish consolidation phase during the Asian session and oscillates in a narrow trading band around the 1.3600 mark, near a two-week low touched earlier this Wednesday.

08:00 Singapore Consumer Price Index (YoY) below forecasts (0.9) in June: Actual (0.8)
Singapore Consumer Price Index (YoY) below forecasts (0.9) in June: Actual (0.8)

07:56 USD/INR refreshes monthly high on consistent FIIs selling of Indian equities
The Indian Rupee (INR) declines to its lowest level in a month against the US Dollar (USD) at open on Wednesday. The USD/INR pair jumps to near 86.55 even as the US Dollar underperforms its Group of Seven (G7) peers, suggesting significant weakness in the Indian Rupee.

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The USD/INR pair jumps to near 86.55 even as the US Dollar underperforms its Group of Seven (G7) peers, suggesting significant weakness in the Indian Rupee.At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades at a feeble level near the two-week low around 97.40 posted on Tuesday.The USD/INR pair extends its winning streak for the fifth trading day on Wednesday as Foreign Institutional Investors (FIIs) continue to pare investments in Indian equity markets.So far this month, FIIs have sold Rs. 22,185.90 crores worth of equity shares. On Tuesday, the selling figure from FIIs was Rs. 22,185.90. Relentless selling by FIIs in Indian equities is driven by moderate growth in India Inc. quarterly earnings and ambiguity over the global trade flow as the United States (US) August 1 tariff deadline looms large.India’s large-cap companies have posted muted growth in the first quarter of the year. From Oil-to-telecom giant Reliance to leading private sector banks, companies have failed to impress investors. Meanwhile, food delivery and Quick Commerce (QC) platform Eternal has shown impressive revenue growth across all its segments.Daily digest market movers: Indian Rupee weakens against US DollarThe US Dollar trades lower against its peers even as the US has announced that it has added more bilateral deals ahead of the August 1 tariff deadline. US President Donald Trump, on Tuesday, announced through posts on Truth.Social deals have been signed with Japan and the Philippines.According to the deal, Washington will receive 15% and 19% tariffs on imports from Japan and the Philippines, respectively. The deal with Japan has been signed at a time when the Japanese economy is facing political risks as Prime Minister Shigeru Ishiba has stated that she will step down by the end of August. This is contrary to her statement that she will continue serving the country after losing control in the upper house of parliament.US President Trump said on Tuesday that the deal with Japan will open the door for Washington to trade in products that include cars and trucks, rice, and certain other agricultural products.Meanwhile, trade deal with India is not supposed to be finalized before the tariff deadline, as White House officials have stated that they will visit New Delhi for the sixth round of trade talks. The impact of the delay in the US-India trade pact would not be significant on Indian companies, as President Trump has not imposed tariffs on New Delhi.In the US, President Trump has criticized Federal Reserve (Fed) Chair Jerome Powell again for not lowering interest rates. "I think he’s done a bad job, but he’s going to be out pretty soon anyway. In eight months, he’ll be out, Trump said at the White House on Tuesday.According to the CME FedWatch tool, the probability for the Fed to reduce borrowing rates in the September policy meeting has also reduced to 58.7% from 69.6% seen a month ago. Traders pare Fed dovish bets after the latest Consumer Price Index (CPI) report showed that prices of products that are the largest imports in the US have increased.Going forward, investors will focus on the preliminary India-US private Purchasing Managers’ Index (PMI) data for July, which is scheduled to be released on Thursday.Technical Analysis: USD/INR advances to near 86.60USD/INR jumps to near 86.60 on Wednesday, the highest level seen in a month. The near-term trend of the pair remains bullish as the 20-day Exponential Moving Average (EMA) slopes higher around 86.11.The 14-day Relative Strength Index (RSI) jumps to near 60.00. A fresh bullish momentum would emerge if the RSI breaks above that level.Looking down, the 50-day EMA near 85.85 will act as key support for the major. On the upside, the June 23 high near 87.00 will be a critical hurdle for the pair. Indian Rupee FAQs What are the key factors driving the Indian Rupee? The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee. How do the decisions of the Reserve Bank of India impact the Indian Rupee? The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference. What macroeconomic factors influence the value of the Indian Rupee? Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee. How does inflation impact the Indian Rupee? Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.

07:50 GBP/USD extends upside above 1.3500 on softer US Dollar
The GBP/USD pair extends the rally to near 1.3525 during the early European session on Wednesday.

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Uncertainty over tariff policy and concerns over the Federal Reserve (Fed) independence weigh on the Greenback. Investors brace for Trump’s tariffs on top trading partners to take effect next month on one hand and bet that Trump will postpone them yet again on the other. Meanwhile, US Treasury Secretary Scott Bessent said earlier this week that the administration is more concerned with the quality of trade agreements than the timing.

Furthermore, worries about Fed independence dampen the market sentiment, as Trump has repeatedly railed against Fed Chair Jerome Powell and urged him to resign because of the US central bank's reluctance to cut interest rates. Fed Vice Chair Michelle Bowman on Tuesday said the Fed's ability to set monetary policy without political interference is "very important.

On the other hand, persistent UK political and fiscal risks, along with a cooling labor market, might undermine the GBP against the USD. Analysts expected the Bank of England (BoE) to deliver two interest rate reductions by the end of the year, which would take the bank rate down to 3.75%. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

07:45 Gold price retreats from monthly top as modest USD strength prompts profit-taking
Gold price (XAU/USD) retreats from its highest level since June 16, around the $3,439 region touched during the Asian session on Wednesday, and for now, seems to have snapped a three-day winning streak.

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Gold price (XAU/USD) retreats from its highest level since June 16, around the $3,439 region touched during the Asian session on Wednesday, and for now, seems to have snapped a three-day winning streak. The global risk sentiment gets a fresh boost after US President Donald Trump announced a trade deal with Japan. This, in turn, undermines the safe-haven precious metal and prompts some profit-taking amid a modest US Dollar (USD) recovery. The USD uptick, however, lacks bullish conviction amid the uncertainty over the likely timing and the pace of interest rate cuts by the Federal Reserve (Fed). This is seen offering some support to the non-yielding Gold price and helping limit deeper losses. Hence, it will be prudent to wait for strong follow-through selling before confirming that the XAU/USD has topped out in the near term and positioning for any meaningful corrective decline. Daily Digest Market Movers: Gold price is pressured by fading safe-haven demand; modest USD strength US President Donald Trump announced in a social media post that his administration had completed a massive trade deal with Japan. Trump added that Japan will pay reciprocal tariffs of 15% and will open its country to trade, including cars and trucks, rice, and certain other agricultural products. The positive developments trigger a fresh wave of the global risk-on trade and dent demand for traditional safe-haven assets. Apart from this, a modest US Dollar bounce from a two-week low touched on Tuesday drives some flows away from the Gold price during the Asian session on Wednesday. Meanwhile, Trump continues to push for lower interest rates and has publicly called for Federal Reserve Chair Jerome Powell’s resignation. Moreover, US Treasury Secretary Scott Bessent renewed calls for a sweeping internal review of the Fed’s operations, fueling worries about the central bank's independence. This, in turn, is holding back the USD bulls from placing aggressive bets. Furthermore, the uncertainty over the eventual state of tariffs globally has been a huge overhang for traders, which could further act as a tailwind for the non-yielding yellow metal and help limit any meaningful corrective decline. Traders now look forward to the release of the US Existing Home Sales data for some impetus later during the North American session. The focus, however, will remain glued to the release of the global flash PMIs, which will influence the global risk sentiment and provide a fresh impetus to the XAU/USD pair. Gold price is likely to attract some dip-buyers near the $3,400 mark amid a constructive technical setup From a technical perspective, this week's breakout through the $3,368-3,370 horizontal barrier and a subsequent move beyond the $3,400 mark on Tuesday was seen as a key trigger for bullish traders. Moreover, oscillators on the daily chart are holding comfortably in the positive territory and are still away from being in the oversold zone. Hence, any further decline might still be seen as a buying opportunity near the $3,400 round figure. Some follow-through selling, however, might negate the positive outlook and drag the Gold price back towards the $3,370 resistance-turned-support. On the flip side, the Asian session peak, around the $3,438-3,439 region, now seems to act as an immediate hurdle ahead of the July swing high, around the $3,451-3,452 zone. A sustained strength beyond the latter should pave the way for a move towards retesting the all-time peak, around the $3,500 psychological mark touched in April. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

07:36 Silver Price Forecast: XAG/USD trades above $39.00, reaches fresh 14-year highs
Silver price (XAG/USD) edges lower after reaching $39.39, the highest since September 2011, and currently trading around $39.20 per troy ounce during the Asian session on Wednesday. The price of Silver comes under pressure due to dampened safe-haven demand, driven by a wave of trade deals.

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The price of Silver comes under pressure due to dampened safe-haven demand, driven by a wave of trade deals.United States (US) President Donald Trump announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products.President Trump said during a meeting with the Philippines President Bongbong Marcos on Tuesday that “I think we will get a trade deal; we're close to a trade deal.” I don't mind if the Philippines gets along with China, he added.On Tuesday, US Treasury Secretary Scott Bessent announced that American and Chinese officials will meet in Stockholm next week for a third round of high-level talks. The meeting follows his recent in-person discussions with Chinese Vice Premier He Lifeng in Geneva and London, as both sides work toward extending the current pause in trade tensions beyond mid-August.The European Union (EU) continues to seek a trade pact with the United States. However, the bloc is preparing retaliatory measures as Trump’s hardline stance heightens the risk of a no-deal outcome. The European Central Bank (ECB) is expected to hold interest rates steady at 2.0% on Thursday after a series of rate cuts. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

07:35 India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Wednesday, according to data compiled by FXStreet.

.fxs-related-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-related-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}.fxs-related-module-related-link a{text-decoration:none;color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px}.fxs-related-module-related-link a:hover,.fxs-related-module-related-link:hover,.fxs-related-module-related-link:hover a{color:#e4871b}.fxs-related-module-related-link a:hover{text-decoration:none}@media (min-width:680px){.fxs-related-module-title{font-size:19.2px;line-height:27.2px}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}} .fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}} Gold prices fell in India on Wednesday, according to data compiled by FXStreet. The price for Gold stood at 9,505.86 Indian Rupees (INR) per gram, down compared with the INR 9,528.17 it cost on Tuesday. The price for Gold decreased to INR 110,877.20 per tola from INR 111,134.70 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,505.86 10 Grams 95,060.84 Tola 110,877.20 Troy Ounce 295,670.30 2025 Gold Forecast Guide [PDF] Download your free copy of the 2025 Gold Forecast Daily digest market movers: Gold price surges as EU-US trade talks seem to falter US Treasury yields continued to drop as the 10-year Treasury note dives over five basis points (bps) to 4.332% at the time of writing. Consequently, US real yields, which are calculated by subtracting inflation expectations from the nominal interest rate, have also decreased by four and a half basis points to 1.932%. The US Dollar Index (DXY), which tracks the buck’s performance against a basket of six currencies, is down 0.44% at 97.43. Trade talks between the EU and the US appear to have stalled, following the White House's imposition of 30% tariffs on EU goods. Consequently, the EU is preparing a retaliatory package in the event that a deal is not reached before the August 1 deadline. Last week’s US economic data delivered a mixed picture. While consumer sentiment improved, inflation accelerated in June, with the Consumer Price Index (CPI) nearing the 3% mark. The Producer Price Index (PPI) showed some signs of easing, but a robust Retail Sales report highlighted the continued resilience of American consumers despite the ongoing rise in prices. Interest rate probability indicates that the Federal Reserve will maintain its current rates, with odds standing at 94% for a hold and 6% for a 25-basis-point rate cut at the July 30 meeting. FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.)

07:31 Netherlands, The Consumer Confidence Adj rose from previous -36 to -32 in July
Netherlands, The Consumer Confidence Adj rose from previous -36 to -32 in July

06:40 EUR/USD holds losses near 1.1750 ahead of Eurozone Consumer Confidence
EUR/USD pulls back from two-week high of 1.1761 reached on Tuesday, trading around 1.1740 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains ground.

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The pair depreciates as the US Dollar (USD) gains ground. United States (US) President Donald Trump announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products.President Trump said during a meeting with the Philippines President Bongbong Marcos on Tuesday that “I think we will get a trade deal; we're close to a trade deal.” I don't mind if the Philippines gets along with China, he added.However, the upside of the Greenback could be restrained due to ongoing concerns over the Federal Reserve’s (Fed) independence. Trump took the opportunity to renew his criticism of Fed Chair Jerome Powell, saying, “Powell’s going to be out soon anyway; he’s got to be out in eight months.” Trump argued that the economy remains strong and claimed the Fed is keeping interest rates too high, insisting, “We should be at 1%.”Traders await European Commission’s (EC) Consumer Confidence due later in the day, with expectations of declining by 15 points in July. Furthermore, the European Central Bank (ECB) is scheduled to deliver its interest rate decision on Thursday, with no change in rates expected. ECB President Christine Lagarde said last month that the easing cycle is coming to an end after eight quarter-point cuts that brought the deposit rate to 2.0%. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

06:02 AUD/JPY rallies amid broadly weaker JPY, lacks follow-through beyond mid-96.00s
The AUD/JPY cross attracts fresh buying near the 95.85 area during the Asian session on Wednesday and builds on the previous day's modest recovery from a nearly two-week low.

05:59 US Dollar Index rebounds to near 97.50 after breaking three-day losing streak
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, halts its three-day losing streak and is trading around 97.50 during the Asian hours on Wednesday.

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Investors will likely observe the US S&P Global Purchasing Managers Index (PMI) data for July, which will be released later on Thursday.United States (US) President Donald Trump announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products.President Trump said during a meeting with the Philippines President Bongbong Marcos on Tuesday that “I think we will get a trade deal; we're close to a trade deal.” I don't mind if the Philippines gets along with China, he added.Trump also took the opportunity to renew his criticism of Federal Reserve (Fed) Chair Jerome Powell, saying, “Powell’s going to be out soon anyway; he’s got to be out in eight months.” Trump argued that the economy remains strong and claimed the Fed is keeping interest rates too high, insisting, “We should be at 1%.”On Monday, US Treasury Secretary Scott Bessent said that the Trump administration prioritizes the quality of trade agreements over their timing. "We're not going to rush for the sake of doing deals," Bessent told CNBC. US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.

05:52 EUR/JPY trims losses near 172.50 after report Japan PM Ishiba to resign
The EUR/JPY cross pares losses to around 172.40 during the Asian trading hours on Wednesday.

05:38 Japan’s Ishiba is reported to step down by the end of August
Japanese Prime Minister Shigeru Ishiba on Wednesday is reported to resign by the end of August.

05:36 Japanese Yen retreats sharply from two-week high against USD amid political uncertainty
The Japanese Yen (JPY) retreats sharply from a two-week top touched against its American counterpart during the Asian session on Wednesday and lifts the USD/JPY pair above the 147.00 mark in the last hour.

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Domestic political uncertainty prompts heavy intraday selling around the JPY.A modest USD bounce from a two-week low further supports the USD/JPY pair. The Japanese Yen (JPY) retreats sharply from a two-week top touched against its American counterpart during the Asian session on Wednesday and lifts the USD/JPY pair above the 147.00 mark in the last hour. Domestic political uncertainty and the upbeat market mood turn out to be key factors undermining the JPY. In fact, a Japanese media outlet reports that Prime Minister Shigeru Ishiba will resign by the end of August This, along with a modest US Dollar (USD) recovery, prompts some intraday short-covering move around the USD/JPY pair. Meanwhile, US President Donald Trump announced a massive trade deal with Japan ahead of the impending August 1 tariffs deadline. This might hold back the JPY bears from placing aggressive bets. Furthermore, the uncertainty keeps a lid on any further appreciation for the currency pair. Japanese Yen bears look to regain control amid domestic political uncertainty In a social media post, US President Donald Trump announced that his administration had completed a trade deal with Japan. Trump added that Japan will be subject to reciprocal tariffs of 15% and will open their country to trade, including cars and trucks, rice, and certain other agricultural products. This helps ease market concerns about the potential economic fallout from steep US tariffs and pushes the Japanese Yen higher against the US Dollar for the third straight day, to a nearly two-week top during the Asian session on Wednesday. However, domestic political uncertainty caps the JPY gains. Japan's ruling coalition – the Liberal Democratic Party (LDP) and its junior partner Komeito – failed to secure a majority in the upper house election on Sunday. Having already lost its majority in Japan's more powerful lower house last year, the outcome is expected to undermine the coalition's influence. History suggests that domestic political uncertainty tends to keep the Bank of Japan on the sidelines, suggesting that prospects for rate hikes could be delayed for a little bit longer, at least until October. This warrants caution for the JPY bulls and supports the USD/JPY pair amid a modest USD uptick. BoJ Deputy Governor Shinichi Uchida reiterated that the central bank will continue to raise its policy rate if the economy and prices move in line with its projections. Core consumer inflation may briefly dip below 2% the next fiscal year but is expected to gradually re-accelerate thereafter, Uchida added. Traders now look forward to the release of the US Existing Home Sales data, due later during the North American session. The focus, however, remains on the flash global PMIs on Thursday, which would provide a fresh insight into the global economic health and influence demand for the safe-haven JPY. USD/JPY shows some resilience below 100-day SMA and rallies back above 147.00 The USD/JPY pair now seems to have found acceptance below the 38.2% Fibonacci retracement level of the monthly upswing. However, spot prices have been showing some resilience below the 100-day Simple Moving Average (SMA). This, in turn, warrants some caution for bearish traders amid neutral oscillators on the daily chart. Hence, any further slide is more likely to attract some buyers and remain cushioned near the 146.00-145.90 region, or the 50% retracement level. Some follow-through selling, however, should pave the way for deeper losses towards the 145.00 psychological mark. On the flip side, some follow-through buying could lift the USD/JPY pair further towards the 147.65 hurdle en route to the 148.00 round figure. A sustained strength beyond the latter would negate any near-term negative outlook and lift spot prices to the 149.00 mark with some intermediate hurdle near the 148.65 region, or the weekly high. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.

05:14 Australian Dollar continues to climb on the back of improving market sentiment
The Australian Dollar (AUD) gains ground against the US Dollar (USD) on Wednesday, extending its winning streak for the fourth successive session.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a} .fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Australian Dollar strengthens as US–China negotiations gain traction ahead of the August 12 deadline.The six-month annualised growth rate in the Westpac Leading Index slowed to 0.03% in June, down from 0.11% in May.President Trump announced a trade agreement with Japan, featuring a 15% tariff on Japanese exports to the US.The Australian Dollar (AUD) gains ground against the US Dollar (USD) on Wednesday, extending its winning streak for the fourth successive session. The AUD/USD pair appreciates amid improving market sentiment, driven by the US President Donald Trump’s announcement of a major tariff deal with Japan, which includes a 15% tariff on Japanese exports. Additionally, talks between the United States (US) and China are gaining momentum ahead of the August 12 deadline.Westpac reports that its Leading Index continues to reflect weakening momentum. The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index eased to 0.03% in June, down from 0.11% in May. The slowdown is primarily driven by softer commodity prices, waning sentiment, and reduced hours worked.The latest Reserve Bank of Australia’s (RBA) Meeting Minutes indicated that the board agreed further rate cuts warranted over time, with attention centered on timing and extent of easing. The majority believed it was best to await confirmation of an inflation slowdown before easing. Most members felt cutting rates three times in four meetings would not be "cautious and gradual.”Australian Dollar advances as US Dollar loses ground amid improved market sentimentThe US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is extending its losses and trading around 97.50 at the time of writing. Investors will likely observe the US S&P Global Purchasing Managers Index (PMI) data for July, which will be released later on Thursday.President Trump announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products.A White House official said that US President Donald Trump is likely to fire Fed Chairman Jerome Powell soon. However, Trump denied it in a Truth Social post on Sunday, calling it “typically untruthful.”Republican Congresswoman Anna Paulina Luna has formally accused the Fed Chair Powell of committing perjury on two separate occasions, both stemming from discussions about the Fed's long-scheduled renovations to its head offices in Washington, DC.The University of Michigan’s (UoM) preliminary Consumer Sentiment Index for July climbed to 61.8 from 60.7 in June, beating expectations of 61.5. Both the Current Conditions and Expectations components improved, reflecting cautious optimism among US households.FOMC Governor Adriana Kugler said that the US central bank should not lower interest rates "for some time" since the effects of Trump administration tariffs are starting to show up in consumer prices. Kugler added that restrictive monetary policy is essential to keep inflationary psychology in line.San Francisco Fed President Mary Daly said last week that expecting two rate cuts this year is a "reasonable" outlook, while warning against waiting too long. Daly added that rates would eventually settle at 3% or higher, which is higher than the pre-pandemic neutral rate.Fed Governor Christopher Waller said that he believes that the US central bank should reduce its interest rate target at the July meeting, citing mounting economic risks. Waller added that delaying cuts runs the risk of needing more aggressive action later.US Commerce Secretary Howard Lutnick stated unequivocally in a televised interview, “That’s a hard deadline, so on August 1, the new tariff rates will come in. Nothing stops countries from talking to us after August 1, but they’re going to start paying the tariffs on August 1.”The People’s Bank of China (PBoC) decided on Monday to leave the one- and five-year Loan Prime Rates (LPRs) unchanged at 3.00% and 3.50%, respectively. It is important to note that any change in the Chinese economy could impact the Australian Dollar as China and Australia are close trade partners.China's Commerce Minister Wang Wentao said on Friday that the economic and trade relations with the United States have gone through storms, but remain important to each other. Wentao also stated that Mutual benefit is the essence of US-China commercial ties. The Geneva agreement and the London framework effectively stabilized commercial ties and cooled tensions, he added.Australian Dollar rises above 0.6550 after surpassing nine-day EMAThe AUD/USD pair is trading around 0.6560 on Wednesday. The daily chart’s technical analysis suggested a prevailing bullish bias as the pair remains within the ascending channel pattern. The 14-day Relative Strength Index (RSI) is positioned above the 50 mark, suggesting a bullish bias is active. Additionally, the pair has also moved above the nine-day Exponential Moving Average (EMA), indicating that short-term price momentum is strengthening.On the upside, the AUD/USD pair may target the eight-month high of 0.6595, which was reached on July 11. A break above this level could reinforce the bullish bias and prompt the pair to explore the region around the ascending channel’s upper boundary around 0.6670.The primary support appears at nine-day EMA at 0.6537, followed by the 50-day EMA of 0.6497. A break below this level would dampen the short- and medium-term price momentum and put downward pressure on the AUD/USD pair to test the ascending channel’s lower boundary around 0.6470, aligned with the three-week low at 0.6454, which was recorded on July 17.AUD/USD: Daily Chart Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the Euro. USD EUR GBP JPY CAD AUD NZD CHF USD 0.15% 0.06% -0.07% -0.07% -0.17% -0.29% 0.09% EUR -0.15% -0.09% -0.22% -0.21% -0.33% -0.44% -0.05% GBP -0.06% 0.09% -0.12% -0.12% -0.25% -0.34% 0.09% JPY 0.07% 0.22% 0.12% 0.03% -0.05% -0.10% 0.19% CAD 0.07% 0.21% 0.12% -0.03% -0.08% -0.01% 0.19% AUD 0.17% 0.33% 0.25% 0.05% 0.08% -0.09% 0.33% NZD 0.29% 0.44% 0.34% 0.10% 0.01% 0.09% 0.44% CHF -0.09% 0.05% -0.09% -0.19% -0.19% -0.33% -0.44% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

05:07 Japan’s Ishiba agrees with US on tariffs
Japanese Prime Minister Shigeru Ishiba said on Wednesday that Japan has agreed to a trade deal with the United States, one of the country's largest trading partners.

04:46 BoJ’s Uchida: Japan’s economy has recovered moderately
Bank of Japan Deputy Governor Shinichi Uchida said on Wednesday that Japan's economy has recovered moderately, although some weakness has been seen in parts.

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Japan's economic growth is likely to moderate due to the effects of trade and other policies.
Uncertainty surrounding trade policies remains extremely high.
It is important to maintain loose monetary policy to support the economy.
We expect to raise interest rates in line with economic and price improvements, if our scenario is realised.
We will judge whether the economy and prices move in line with our forecast without any pre-set idea.
It is likely that Japan's economic growth will moderate and underlying inflation will be sluggish temporarily.
It is hard to say from current data how trade talks will turn out, or which direction domestic and overseas economies and markets will move.
Overseas and Japanese economies appear to be at a critical point, with very high uncertainty.
Economic uncertainties are likely to act as downside risks to inflation.
Cost-push factors are pushing up inflation, mainly for food prices.
There are high uncertainties over Japan's economy, and risks are skewed to the downside. The direct impact of U.S. tariff hikes on Japanese firms is likely to first appear in export profitability or export volume.
We will scrutinise how such downside and upside risks affect our price outlook via corporate wage and price-setting behaviour.
We must adjust monetary policy to best balance upside and downside risks from the perspective of maintaining economic and price stability.
The BoJ aims to take an orthodox, robust monetary policy approach, especially because uncertainty is extremely high.
It is important to firmly support economic activity by maintaining accommodative financial conditions.
Large-scale monetary easing was a necessary policy, but there is no such thing as a free lunch.
Only when the BoJ makes a successful exit can it be judged that our monetary easing had a positive effect on Japan's economy. Market reaction At the press time, the USD/JPY pair is down 0.02% on the day to trade at 146.58. Bank of Japan FAQs What is the Bank of Japan? The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%. What has been the Bank of Japan’s policy? The Bank of Japan embarked in an ultra-loose monetary policy in 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank’s policy is based on Quantitative and Qualitative Easing (QQE), or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds. In March 2024, the BoJ lifted interest rates, effectively retreating from the ultra-loose monetary policy stance. How do Bank of Japan’s decisions influence the Japanese Yen? The Bank’s massive stimulus caused the Yen to depreciate against its main currency peers. This process exacerbated in 2022 and 2023 due to an increasing policy divergence between the Bank of Japan and other main central banks, which opted to increase interest rates sharply to fight decades-high levels of inflation. The BoJ’s policy led to a widening differential with other currencies, dragging down the value of the Yen. This trend partly reversed in 2024, when the BoJ decided to abandon its ultra-loose policy stance. Why did the Bank of Japan decide to start unwinding its ultra-loose policy? A weaker Yen and the spike in global energy prices led to an increase in Japanese inflation, which exceeded the BoJ’s 2% target. The prospect of rising salaries in the country – a key element fuelling inflation – also contributed to the move.

04:27 NZD/USD strengthens to near 0.6000 amid concerns over Fed’s independence
The NZD/USD pair trades in positive territory for the fourth consecutive day near 0.6005 during the Asian trading hours on Wednesday.

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Investors will closely monitor whether the US central bank can maintain its independence amid mounting pressures and a situation that reflects the challenges facing the US economy. US Treasury Secretary Scott Bessent on Monday said the Fed’s independence on monetary policy is threatened by its "mandate creep" into non-policy areas, and he called on the US central bank to conduct an exhaustive review of those operations.

Meanwhile, Fed Vice Chair Michelle Bowman on Tuesday said the Fed's ability to set monetary policy without political interference is "very important.

Nonetheless, softer New Zealand CPI inflation has fueled the prospect of a Reserve Bank of New Zealand (RBNZ) interest rate cut in August. Traders expect the New Zealand central bank to deliver at least one additional rate cut over the remainder of the year. Traders have priced in nearly 85% odds that the RBNZ will reduce the cash rate by a further 25 basis points (bps) in the August meeting. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.

04:17 PBOC sets USD/CNY reference rate at 7.1414 vs. 7.1460 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.1414 as compared to the previous day's fix of 7.1460.

03:40 Australia Westpac Leading Index (MoM) increased to 0% in June from previous -0.06%
Australia Westpac Leading Index (MoM) increased to 0% in June from previous -0.06%

03:33 WTI tumbles to below $65.50 amid concerns over oil demand
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.40 during the early Asian trading hours on Wednesday.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}WTI price loses momentum to near $65.40 in Wednesday’s early Asian session. Renewed trade tensions weigh on the oil demand outlook.Crude inventories in the United States declined by 577,000 barrels last week, noted API. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.40 during the early Asian trading hours on Wednesday. The WTI edges lower as US President Trump's tariff policies spark fresh concern over global fuel demand. Traders brace for the release of the US Energy Information Administration (EIA) weekly crude oil stock report later on Wednesday.

Traders are concerned that Trump's tariff policies will lead to slower global economic growth and reduced energy demand, which could exert some selling pressure on the WTI price. Trump stated that reciprocal tariffs will increase on August 1 for trade partners that have not reached a trade agreement with the US. Earlier this week, Trump had threatened a 30% tariff on the European Union (EU) imports if no deal was reached. Additionally, concerns of a mounting global oil supply glut might contribute to the WTI’s downside. The Iraqi government has officially resumed crude oil exports from the Kurdistan Region after over two years' halt, in a move expected to ease tensions between Baghdad and Erbil and boost national export volumes. Kurdistan expects to supply Iraq's crude market with 230,000 barrels per day (bpd) of crude once exports resume. The outlook for larger crude exports from Iraq may boost global oil supplies and undermine the WTI price in the near term.

US crude oil inventories fell last week, which might provide some support to the WTI. The American Petroleum Institute (API) weekly crude oil stock report showed crude oil stockpiles in the US for the week ending July 18 declined by 577,000 barrels, compared to a rise of 19.1 million barrels in the previous week. So far this year, crude oil inventories are up 11 million barrels, according to Oilprice calculations of API data. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

02:43 US President Donald Trump says he has completed a 'massive deal' with Japan
US President Donald Trump said early Wednesday that the United States (US) has a trade deal with Japan.

02:19 USD/CAD extends the decline to near 1.3600 as Trump's tariff deadline looms
The USD/CAD pair extends its downside to around 1.3605 during the early Asian session on Wednesday.

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Canadian Prime Minister Mark Carney emphasized that his government will only sign a new agreement if there is one worth signing. "The Government of Canada will not accept a bad deal," said Carney on Tuesday. Additionally, Carney stated that while the Canadian government remains open to further trade talks with the US, the country will continue to pursue active negotiations with allies outside of the US.

Analysts believe the prospect of Canada reaching a trade agreement with the US by the August 1 deadline appears uncertain. This, in turn, continues to weigh on the US Dollar (USD) in the near term.

Concerns over the Federal Reserve (Fed) independence might also drag the Greenback lower as US President Donald Trump has repeatedly railed against Chair Jerome Powell and urged him to resign because of the US central bank's reluctance to cut interest rates.

On the other hand, a decline in Crude Oil prices could undermine the commodity-linked Loonie. It’s worth noting that Canada is the largest oil exporter to the US and lower crude oil prices tend to have a negative impact on the CAD value. Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

01:52 GBP/USD continues bullish bounce as Greenback continues to weaken
GBP/USD rose for a second straight day on Tuesday, lifted by a general weakening in global Greenback markets.

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Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

01:44 Silver Price Forecast: XAG/USD hits 14-year high above $39.25
Silver price rally continued during the week, posting gains of over 0.94% on Tuesday and reaching 14-year highs, levels last seen in September 2011. At the time of writing, XAG/USD trades at $39.25.

01:37 EUR/USD climbs above 1.1740 as risk appetite pressures Dollar, ECB in focus
EUR/USD remains above the 20-day Simple Moving Average (SMA) of 1.1704, trading with gains of over 0.50% due to an improvement in risk appetite weighing on the US Dollar, even though fears that the European Union (EU) and the United States (US) might fail to reach a deal before the August 1 deadline

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The pair trades at 1.1747 after hitting a daily low of 1.1678.The financial markets narrative has remained unchanged for over 24 hours. US equities ended the session mixed. Trade news from the US continued to grab the headlines, with the US announcing a deal with the Philippines, but it has not revealed an advance with the EU.US Treasury Secretary Scott Bessent said that the White House is more concerned with the quality of the deals than their timing. When asked about extending the deadline, he said it would be up to Donald Trump to decide.Meanwhile, EU leaders will meet with their Japanese and Chinese counterparts this week, according to Bloomberg. Themes to discuss would focus on defense and trade cooperation with Japan, with limited hopes for discussions in Beijing.Traders are eyeing the European Central Bank (ECB) monetary policy decision on July 24, in which the central bank is expected to hold rates unchanged as inflation is near target, and trade risks are still evolving.This week, the EU’s economic docket will feature Consumer Confidence, Flash PMIs for July, and the European Central Bank (ECB) monetary policy decision. Across the pond, the US schedule will announce US housing data, S&P Global Flash PMIs, Initial Jobless Claims, and Durable Goods Orders.Daily digest market movers: EUR/USD climbs on broad USD weaknessThe US Dollar Index (DXY), which tracks the buck's value against a basket of six currencies, drops 0.46% to 97.39, boosting the Euro’s advance against the former.Last week’s US economic data delivered a mixed picture. While consumer sentiment improved, inflation accelerated in June, with the Consumer Price Index (CPI) nearing the 3% mark. The Producer Price Index (PPI) showed some signs of easing, but a robust Retail Sales report highlighted the continued resilience of American consumers, despite the ongoing rise in prices.Some EU diplomats said the bloc is exploring a set of retaliatory measures against the US if an agreement fails to materialize. These measures include digital services, aerospace products, and bourbon. This wouldn’t offset the impact from the 30% tariff rate threatened by US President Donald Trump.The odds of the ECB keeping rates unchanged at the July 24 meeting are 57.5%, with a modest chance of a 0.25 percentage point cut at 42.5%. Compared to a day ago, the odds of a cut increased from 37.5%, which is worth noting.Technical outlook: EUR/USD poised to test 1.1800 in the near termThe uptrend resumed after posting two straight days of gains, clearing the 20-day Simple Moving Average (SMA) at 1.1709. Momentum is favoring buyers, as depicted by the Relative Strength Index (RSI), which has jumped from around its neutral level towards the 60 mark.If the EUR/USD climbs above 1.1750, expect a test of the 1.1800 figure ahead of the YTD high of 1.1829. Otherwise, if the pair tumbles below 1.1700, further downside is seen. The first support level would be 1.1600, followed by the 50-day SMA at 1.1532, ahead of 1.1500. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

00:00 South Korea Consumer Sentiment Index up to 110.8 in July from previous 108.7
South Korea Consumer Sentiment Index up to 110.8 in July from previous 108.7

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08:06 USD/CAD Price Forecast: Hangs near two-week low, seems vulnerable around 1.3600 The USD/CAD pair enters a bearish consolidation phase during the Asian session and oscillates in a narrow trading band around the 1.3600 mark, near a two-week low touched earlier this Wednesday.

08:00 Singapore Consumer Price Index (YoY) below forecasts (0.9) in June: Actual (0.8) Singapore Consumer Price Index (YoY) below forecasts (0.9) in June: Actual (0.8)

07:50 GBP/USD extends upside above 1.3500 on softer US Dollar The GBP/USD pair extends the rally to near 1.3525 during the early European session on Wednesday.

07:45 Gold price retreats from monthly top as modest USD strength prompts profit-taking Gold price (XAU/USD) retreats from its highest level since June 16, around the $3,439 region touched during the Asian session on Wednesday, and for now, seems to have snapped a three-day winning streak.

07:35 India Gold price today: Gold falls, according to FXStreet data Gold prices fell in India on Wednesday, according to data compiled by FXStreet.

07:31 Netherlands, The Consumer Confidence Adj rose from previous -36 to -32 in July Netherlands, The Consumer Confidence Adj rose from previous -36 to -32 in July

06:40 EUR/USD holds losses near 1.1750 ahead of Eurozone Consumer Confidence EUR/USD pulls back from two-week high of 1.1761 reached on Tuesday, trading around 1.1740 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains ground.

06:02 AUD/JPY rallies amid broadly weaker JPY, lacks follow-through beyond mid-96.00s The AUD/JPY cross attracts fresh buying near the 95.85 area during the Asian session on Wednesday and builds on the previous day's modest recovery from a nearly two-week low.

05:59 US Dollar Index rebounds to near 97.50 after breaking three-day losing streak The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, halts its three-day losing streak and is trading around 97.50 during the Asian hours on Wednesday.

05:52 EUR/JPY trims losses near 172.50 after report Japan PM Ishiba to resign The EUR/JPY cross pares losses to around 172.40 during the Asian trading hours on Wednesday.

05:38 Japan’s Ishiba is reported to step down by the end of August Japanese Prime Minister Shigeru Ishiba on Wednesday is reported to resign by the end of August.

05:36 Japanese Yen retreats sharply from two-week high against USD amid political uncertainty The Japanese Yen (JPY) retreats sharply from a two-week top touched against its American counterpart during the Asian session on Wednesday and lifts the USD/JPY pair above the 147.00 mark in the last hour.

05:14 Australian Dollar continues to climb on the back of improving market sentiment The Australian Dollar (AUD) gains ground against the US Dollar (USD) on Wednesday, extending its winning streak for the fourth successive session.

05:07 Japan’s Ishiba agrees with US on tariffs Japanese Prime Minister Shigeru Ishiba said on Wednesday that Japan has agreed to a trade deal with the United States, one of the country's largest trading partners.

04:46 BoJ’s Uchida: Japan’s economy has recovered moderately Bank of Japan Deputy Governor Shinichi Uchida said on Wednesday that Japan's economy has recovered moderately, although some weakness has been seen in parts.

04:27 NZD/USD strengthens to near 0.6000 amid concerns over Fed’s independence The NZD/USD pair trades in positive territory for the fourth consecutive day near 0.6005 during the Asian trading hours on Wednesday.

04:17 PBOC sets USD/CNY reference rate at 7.1414 vs. 7.1460 previous The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.1414 as compared to the previous day's fix of 7.1460.

03:40 Australia Westpac Leading Index (MoM) increased to 0% in June from previous -0.06% Australia Westpac Leading Index (MoM) increased to 0% in June from previous -0.06%

03:33 WTI tumbles to below $65.50 amid concerns over oil demand West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.40 during the early Asian trading hours on Wednesday.

02:43 US President Donald Trump says he has completed a 'massive deal' with Japan US President Donald Trump said early Wednesday that the United States (US) has a trade deal with Japan.

02:19 USD/CAD extends the decline to near 1.3600 as Trump's tariff deadline looms The USD/CAD pair extends its downside to around 1.3605 during the early Asian session on Wednesday.

01:52 GBP/USD continues bullish bounce as Greenback continues to weaken GBP/USD rose for a second straight day on Tuesday, lifted by a general weakening in global Greenback markets.

01:44 Silver Price Forecast: XAG/USD hits 14-year high above $39.25 Silver price rally continued during the week, posting gains of over 0.94% on Tuesday and reaching 14-year highs, levels last seen in September 2011. At the time of writing, XAG/USD trades at $39.25.

00:00 South Korea Consumer Sentiment Index up to 110.8 in July from previous 108.7 South Korea Consumer Sentiment Index up to 110.8 in July from previous 108.7

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