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WTI surges as US strikes Iranian tankers
West Texas Intermediate (WTI) oil price extends its gains for the third successive day, trading around $92.30 during the Asian hours on Wednesday. Crude oil prices rise as the US struck several Iranian tankers near Kharg Island, a major crude export hub.
PBOC sets USD/CNY reference rate at 6.7769 vs. 6.7804 previous
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7769 compared to the previous day's fix of 6.7804 and 6.7042 Reuters estimate.
British Pound holds steady near mid-1.3500s vs USD as traders eye UK GDP and US inflation
The GBP/USD pair trades with a positive bias near mid-1.3500s during the Asian session on Wednesday, though it lacks bullish conviction and remains confined within the previous day's broader range.
Euro grinds higher above 1.1600, traders await ECB rate decision, US inflation data
The EUR/USD pair gains traction to near 1.1630 during the early Asian trading hours on Wednesday. Expectations of a rate hike from the European Central Bank (ECB) provide some support to the Euro (EUR) against the US Dollar (USD). ECB President Christine Lagarde is set to speak later in the day.Â
US targets Iranian oil tankers in response to attacks on US ships
US official said that US forces have struck multiple Iranian tankers tied to Iran’s Islamic Revolutionary Guard Corps (IRGC) in response to attempted missile attacks on a US warship, Bloomberg reported on Tuesday.Â
Japan Money Supply M2+CD (YoY) dipped from previous 2.2%Â to 2% in August
Japan Money Supply M2+CD (YoY) dipped from previous 2.2%Â to 2% in August
Gold slumps to near $4,350 amid oil-driven inflation fears, US inflation data in focus
Gold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation ‌concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
Australian Dollar bulls run into Oil wall amid looming Fed decision
The Aussie Dollar finished Tuesday’s session flat after bouncing off daily lows of 0.7204 but failed to sustain its gains as higher oil prices pushed the Greenback higher, leaving the Aussie Dollar nearly flat, according to the US Dollar Index (DXY).
The Japanese Yen spikes on a generational wage print and balks by the closing bell
USD/JPY trades just under 154.00, roughly 40 pips lower on Tuesday after a 147-pip round trip.
South Korea Unemployment Rate: 2.7% (August) vs previous 2.8%
South Korea Unemployment Rate: 2.7% (August) vs previous 2.8%
USD/JPY Price Forecast: Hammer teases rebound after 650-pip slide
The USD/JPY continued to fall for the second straight day, losing 0.40%, but found support around 153.00, with the pair set to end the session at around 153.75.
The Pound sits still through a hawkish hearing and the priciest gilt sale
GBP/USD trades just under 1.3550 after a session that spanned 40 pips and returned two-tenths of a pip.
Silver Price Forecast: Head-and-Shoulders risk builds below $67
Silver price struggles to clear a key technical resistance near $67.00, retraces to two-day lows at $65.31, and records a 1.42% loss. The non-yielding metal failed to sustain its early gains amid elevated US bond yields, driven by rising inflationary pressures.