Gold (XAU/USD) drops to a nearly four-week low during the Asian session on Wednesday and is now looking to extend the fall further below $4,300 amid a bearish fundamental backdrop.
The GBP/USD pair declines to near 1.3500 during the early European trading hours on Wednesday. Ongoing tensions in the Middle East provide some support to a safe-haven currency such as the US Dollar (USD) against the British Pound (GBP).
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground for the second successive day and trading around 99.70 during the Asian hours on Wednesday.
Silver price (XAG/USD) extends its losses for the second successive day, trading around $63.40 per troy ounce during the Asian hours on Wednesday. The non-yielding Silver declines as a global bond selloff drove the US 10-year Treasury yield up to 4.80%, hitting its highest point since early 2025.
The AUD/NZD cross builds on the better-than-expected Australian data-inspired gains and rallies to the 1.2200 mark, or the highest since July 8, after the Reserve Bank of New Zealand (RBNZ) announced its policy decision.
The NZD/USD pair tumbles to near 0.5855 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) faces some selling pressure against the US Dollar (USD) after the Reserve Bank of New Zealand (RBNZ) interest rate decision.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – scales higher for the third straight day – also marking the fifth day of a positive move in the previous six – and climbs to a fresh high since July 24 during the Asian session on Wednesday.
AUD/USD inches higher after recovering its daily losses, trading around 0.7150 during the Asian hours on Wednesday.
Bank of Japan (BoJ) board member Hajime Takata said on Wednesday that the central bank must conduct rate hikes nimbly after assessing accommodation in domestic financial conditions and developments.
Australia’s Gross Domestic Product (GDP) rose 0.4% QoQ in the second quarter (Q2) of 2026 compared with the 0.3% growth in the first quarter (Q1), the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in stronger than the expectations of 0.3% expansion.
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7829 compared to the previous day's fix of 6.7809 and 6.7238 Reuters estimate.
The USD/JPY pair is seen consolidating near its highest level since July 31, touched during the Asian session on Wednesday, and trading around the 160.25-160.30 region.
GBP/USD extends its losses for the second successive day, trading around 1.3510 during the Asian hours on Wednesday.
Bank of Japan (BoJ) Governor Kazuo Ueda on Tuesday held talks with US Treasury Secretary Bessent on the sidelines of the G20, but giving no details on what was discussed.
Japanese Finance Minister (FM) Satsuki Katayama said on Tuesday that debt growth is global trend, Japan outlines fiscal policy targeting growth and sustainability. Katayama added that US Treasury Secretary Bessent referenced US strategies to manage debt.
The US Central Command (CENTCOM) said it completed a wave of strikes against Iran’s Islamic Revolutionary Guard Corps (IRGC) targets in Iran early on Wednesday, CNBC reported.
Gold price (XAU/USD) tumbles to near a two-week low around $4,330 during the early Asian session on Wednesday. The precious metal faces some selling pressure on elevated Treasury yields and a stronger US Dollar (USD).
The Aussie Dollar retreats some 0.29% against the US Dollar on Tuesday as the escalation of the Middle East conflict boosted the Greenback due to its haven appeal. The AUD/USD trades at 0.7146.
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann discuss recent volatility in USD/CNH after a sharp rebound and subsequent drop.
The shared currency edges lower, capped by the 200-day Simple Moving Average (SMA) at 1.1633, amid rising geopolitical tensions and escalating hostilities between the US and Iran, prompting investors to buy the US Dollar. At the time of writing, the EUR/USD trades at 1.1590, down 0.25%.
Reserve Bank of New Zealand’s (RBNZ) Governor Anna Breman presents the prepared remarks on the Monetary Policy Review (MPR) and responds to media questions at the press conference after the September monetary policy announcement.
UOB's Jester Koh note they raise their FY27 Gross Domestic Product (GDP) forecast for India to 7.2% from 6.8% after a stronger-than-expected 1QFY27 expansion of 7.8% year-on-year.
OCBC strategists Sim Moh Siong and Christopher Wong have recalibrated Asian FX forecasts slightly firmer against the US Dollar (USD), with more notable upgrades for KRW and MYR.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD has retreated sharply after last week’s spike, but downside momentum remains limited.
The Mexican Peso (MXN) erases some of its earlier gains against the US Dollar (USD) on Tuesday as the US and Iran launched successive strikes against each other, souring risk appetite and weighing on the emerging market currency. The USD/MXN pair trades at 16.99, virtually unchanged.
Standard Chartered strategists Anubhuti Sahay and Saurav Anand revise their FY27 Gross Domestic Product (GDP) growth forecast to 7.2% from 6.6% following a robust Q1-FY27 print and strong high-frequency indicators.
Gold (XAU/USD) price collapses over 2.30% on Tuesday as the Middle East conflict escalates, with the US and Iran exchanging strikes, while US economic data was mixed but moved to the back seat amid geopolitical tensions.
Rabobank strategists highlight growing pressure on China’s trade model as US-led restrictions target links with Iran and Venezuela.
National Bank of Canada (NBC) strategists note that global equities, including the MSCI ACWI, remain on track for another positive quarter, helped by an August rebound.
The 10-year Treasury yield trades near 4.79%, roughly four basis points higher and at its highest level since January 2025, in a fifth consecutive session of selling.
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