The Indian Rupee (INR) weakens on Wednesday. Foreign outflows worth $900 million from Zomato due to MSCI index rebalancing, along with the expectations of interest rate cuts by the Reserve Bank of India (RBI) weigh on the local currency.
China’s Vice Commerce Minister and Deputy International Trade Representative, Ling Ji, met with a group of German small and medium-sized enterprise (SME) representatives in Beijing.
Australia’s monthly Consumer Price Index (CPI) steadied at 2.4% in the year to April, compared to a 2.4% rise seen in March, according to the data published by the Australian Bureau of Statistics (ABS) on Wednesday.
On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1894 as compared to the previous day's fix of 7.1876 and 7.1996 Reuters estimate.
Japan’s Finance Minister Shunichi Kato said on Wednesday that he will closely monitor bond market situations as he is concerned about a recent spike yields in Japan.
Bank of Japan Governor Kazuo Ueda said on Wednesday that many tariff negotiations, including those between the United States and Japan, are still ongoing, so the outlook remains uncertain. Ueda further states that the central bank will closely monitor the incoming data.
Federal Reserve Bank of New York President John Williams said on Wednesday that he wants to avoid inflation becoming highly persistent because that could become permanent.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.90 during the Asian trading hours on Wednesday. The WTI price edges lower amid supply concerns after Iranian and US delegations made progress in their nuclear talks.
GBP/USD pared recent gains on Tuesday, snapping a six-day win streak and knocking price action away from the 1.3600 handle after the pair tapped fresh multi-year highs this week.
The USD/CAD pair posts modest gains near 1.3805 during the early Asian session on Wednesday. The US Dollar (USD) strengthens against the Canadian Dollar (CAD) after the stronger US Consumer Confidence data. The attention is shifted to the FOMC Minutes, which are due later on Wednesday.
NZD/JPY extended its rally for the third consecutive day on Tuesday, rose a slim 0.17%, but failed to clear key resistance seen at the Kijun-Sen at 85.92 to challenge the 86.00 figure. As Wednesday’s Asian session begins, the cross-pair trades at 85.81 virtually unchanged.
US Treasury yields fall across the whole curve due to concerns over an increase in global government debt supply, which sent yields rising last week, and retraced somewhat on expectations that Japan could begin issuing short-term debt.
Reserve Bank of New Zealand’s (RBNZ) acting Governor Christian Hawkesby presents the prepared remarks on the policy statement and responds to media questions at the press conference after the May monetary policy announcement.
Silver price falls by 0.70% on Tuesday, yet it has trimmed some of its earlier losses that pushed the grey metal below $33.00, hitting a two-day low of $32.77. At the time of writing, XAG/USD trades at $33.29.
The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY), extending modest gains for the third consecutive day. At the time of writing, the AUD/JPY cross is pushing higher to trade near 93.00 during the late American sessions on Tuesday, up nearly 1% on the day.
The EUR/USD pair retreats below 1.1400 for the second consecutive day, driven by a recovery in the US Dollar (USD) following an upbeat Consumer Confidence report. Additionally, soft inflation data in France undermined the shared currency, which trades on Tuesday at 1.1335, down over 0.40%.
Fintech company Purpleplum, originally established in India, has officially restructured as a U.S.-based company in a bid for global scale, product innovation, and broader capital access.
The US Dollar (USD) regained composure and managed to leave behind two daily retracements in a row on turnaround Tuesday, as US investors returned to their desks following Monday’s Memorial Day holiday.
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