Forex News

EUR/USD is consolidating below 1.0900 early Wednesday amid a modest US Dollar uptick. Fed rate cut bets keep the US bond yields depressed, capping the pair's downside. Wednesday’s key US data might provide some impetus ahead of the ECB on Thursday.

USD/JPY is trading with sizeable gains above 156.00 in the European session on Wednesday, as buyers re-emerged on a dip below the 155.00 level. A risk-on-market environment and a broad US Dollar rebound are aiding the pair's surge. Top-tier US economic data are next on tap. 

Gold price (XAU/USD) attracted some sellers on Tuesday and dropped to the $2,316-2,315 area, back closer to a multi-week low touched the previous day in the wake of a modest US Dollar (USD) strength. 

Reserve Rights price is facing a pullback after testing the 61.8% Fibonacci retracement level at $0.0100. On-chain data suggests that RSR development activity is growing. A daily candlestick close below $0.0057 would invalidate the bullish thesis.

An early insight – that is the promise of ADP's US private-sector jobs report, making markets shake. The upcoming report comes at a sensitive time, after two other high-tier indicators point to a more substantial slowdown in the US economy.