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Forex markets US Dollar after making gains in the previous three trading days and reaching a new 2023 high. The US Dollar Index entered a consolidation period above 106.00 early Wednesday. The small increase in risk sentiment makes it difficult for the US Dollar (USD). To beat its competitors in the middle of the week. The US economic docket will include August Durable Goods Orders. And the US Department of Treasury will host a 5-year Treasury note auction later in the day.
Despite the fact that statistics from the United States suggested. Further deterioration in consumer mood in September and a significant decrease on Tuesday. Despite the negative activity on Wall Street. The USD managed to keep its footing in new home sales in August. US stock index futures gained traction in the European morning. As they were last seen gaining between 0.3% and 0.4%.
The Australian Bureau of Statistics announced in the Asian session that annual inflation in Australia rose to 5.2% in August. This move was expected by the market, and the AUDUSD failed to gain traction. At the time of publication, the pair was trading slightly lower on the day, just around 0.6400.
On Wednesday, the USDJPY continued to rise and surpassed 149.00. The minutes of the Bank of Japan’s September policy meeting revealed earlier in the day that members agreed to keep interest rates unchanged. current monetary easing to attain the price objective steadily and sustainably. Meanwhile, Japanese Finance Minister Shunichi Suzuki said that the country is closely monitoring events in the foreign exchange market.
On Tuesday, the EURUSD fell below 1.0600 for the first time since February. The pair consolidates its weekly losses over 1.0550 early Wednesday.
In the late Asian session on Wednesday, the GBPUSD fell to a fresh multi-month low of 1.2136 before recovering at 1.2150.
USDCHF surged toward 0.9200 on Wednesday, reaching its highest level in six months. Later in the day, the Swiss National Bank (SNB) will release its Quarterly Bulletin for the third quarter.
Gold prices extended their weekly dip, falling below $1,900 for the first time in five weeks. The benchmark 10-year US Treasury bond yield has remained at multi-year highs of approximately 4.5%, preventing a recovery in the XAUUSD.
