On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7249 compared to the previous day's fix of 6.7298 and 6.6922 Reuters estimate.
West Texas Intermediate (WTI) oil price extends its gains for the fifth consecutive day, trading around $94.30 per barrel during Asian hours on Wednesday.
The EUR/USD pair holds positive ground near 1.1205 during the early Asian trading hours on Wednesday. The US Dollar (USD) softens against the Euro (EUR) following remarks from New York Federal Reserve (Fed) President John Williams.
Yemen’s Houthi rebels launched a series of missile attacks targeting cities across Saudi Arabia as the military said projectiles are being intercepted. Falling shrapnel in Dhahran and Riyadh injured at least four people in the Saudi capital.
The Aussie Dollar registers a gain of over 0.34% against the US Dollar on Tuesday as news flows remain quiet, with US data coming mixed, while hostilities in the Middle East continue. The AUD/USD trades at 0.6983.
Gold price (XAU/USD) drifts lower to near $4,155 during the early Asian session on Wednesday. The precious metal extends the decline as rising oil prices fuel inflation concerns and prompt major central banks to tighten monetary policy.
The Dollar fell against every major currency on Tuesday and fell least against the Yen, on the day the Bank of Japan (BoJ) was reported to be leaning against an October rate hike.
The Mexican Peso depreciates against the US Dollar as traders await the release of the US Consumer Price Index (CPI) report, which could set the pace for interest rates towards the end of the year. The USD/MXN trades at 18.36, up 0.57%.
Despite Tuesday's gain, GBP/USD is in its third straight week of trading between roughly 1.3200 and 1.3300, a range it has held since September 24. It climbed in steps from just above 1.3200 to a high just under 1.3260 and trades near 1.3250, the middle of that range.
Goldman Sachs (GS) earned $17.01 a share in the third quarter against a forecast near $13.00. JPMorgan Chase (JPM) missed on profit and revenue but raised its 2026 forecast for net interest income, what it earns on loans minus what it pays on deposits.
DBS Group Research economist Ma Tieying assesses Taiwan’s macro outlook, highlighting a strong AI cycle, diversified energy imports and evolving tariff dynamics with the US.
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann describe USD/CNH price action as fading in downside momentum and now largely range-bound between 6.6900 and 6.7000 in the short term. Over 1–3 weeks, they still warn that a break and close below 6.6900 could trigger a move toward 6.6800. On a 1–3 month view, they expect the pair to keep edging lower while below 6.7815.
On Tuesday, Boston Federal Reserve (Fed) President Susan Collins said that the Fed's main focus is inflation, while adding that he expects "inflation to stay above 2% due to high energy prices.”
The GBP/JPY pair extends its modest gains for two straight days this week, up 0.16% on Tuesday, as the cross-pair continues to consolidate near the 210.00 figure with no clear bias, while the Relative Strength Index (RSI) drifts higher towards its 50-neutral level, an indication that buyers are step
Scotiabank strategists Shaun Osborne and Eric Theoret highlight the Japanese Yen (JPY) as somewhat firmer, with USD/JPY pulling back from the upper 158s on comments from BoJ Governor Ueda and PM Takaichi about close US-Japan FX contact.
OCBC strategists Sim Moh Siong and Christopher Wong expect Monetary Authority of Singapore (MAS) to slightly steepen its S$NEER policy band slope on Wednesday. With tightening largely priced in, the immediate Singapore Dollar (SGD) reaction may be muted.
Societe Generale’s Kit Juckes argues that Fed Funds forward pricing may be nearing the end of its third upward leg this year, with current expectations just below 5% and the US Dollar (USD) having risen alongside each repricing.
The Swiss Franc (CHF) registers gains versus the US Dollar (USD) on Tuesday as risk appetite improves and energy prices retreat, weighing on the Greenback, which failed to advance even as US Treasury yields soared ahead of the US CPI release. The USD/CHF pair trades at 0.8331, down 0.18%.
Scotiabank strategists Shaun Osborne and Eric Theoret say the Euro (EUR) is marginally firmer versus the US Dollar (USD) on the softer USD tone, with ECB Governor Stournaras signalling continued gradual tightening.
On Tuesday, Richmond Federal Reserve (Fed) President Thomas Barkin appeared at Howard University and said 2 percent inflation isn't a unicorn and that “we can hit it,” adding that Fed policymakers see the impact of AI investment on US inflation.
On Tuesday, New York Federal Reserve (Fed) President John Williams, a voter on the Federal Open Market Committee (FOMC), said he believes “disinflationary forces are at play,” and added that “one more interest-rate hike is appropriate this year.”
EUR/USD trades on the front foot on Tuesday as a pullback in the US Dollar (USD) lifts the Euro (EUR).
Fresh downside pressure has weighed on the US Dollar (USD) on Tuesday, prompting it to recede from Monday’s fresh highs. The Greenback’s correction comes amid declining crude oil prices and mixed US Treasury yields as investors gear up for key data releases on Wednesday.
Gold price (XAU/USD) extends its losses on Tuesday as US Treasury yields resumed their uptrend, erasing previous losses, even though the US Dollar faces headwinds ahead of the release of US inflation data. At the time of writing, XAU/USD trades at $4,157, down 0.37%.
Silver (XAG/USD) trades on the back foot on Tuesday, losing more than 1.5% as hawkish Federal Reserve (Fed) expectations and elevated US Treasury yields weigh on the non-yielding metal.
NZD/USD rebounds on Tuesday, trading around 0.5610 at the time of writing, up 0.42% on the day. The pair recovered some of its recent losses after hitting its lowest level since April 2025 near 0.5580.
USD/CAD falls around 0.45% on Tuesday as US Dollar (USD) bulls take a breather ahead of Wednesday’s US inflation report.
The September Consumer Price Index (CPI) is due on Wednesday at 12:30 GMT, with headline inflation forecast to rise to 3.6% from 3.4%. Core prices, which leave out food and energy, are forecast up 0.2% in the month against 0.6% overall.
The Pound Sterling (GBP) gains against the US Dollar (USD) on Tuesday, up 0.28%, as investors seem confident the Bank of England (BoE) will raise rates at its November meeting, while they brace for the release of US inflation figures. At the time of writing, GBP/USD trades at 1.3244.
Three banks agree the US Dollar (USD) is on solid footing for now, but none expects a decisive breakout or a sharp reversal soon. OCBC, Commerzbank and ING credit the Greenback's support to higher Oil prices, firm US yields and sticky Federal Reserve (Fed) tightening expectations.
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