The USD remains subdued with the AUD outperforming on strong Chinese data. Sterling is under pressure following a below-target inflation reading.

 

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AUD/USD: Nears six-week low of 0.6835 on the break of 100-day SMA

AUD/USD extends its four-day-old declines while flashing fresh six-week low of 0.6835 during early Wednesday. The pair registered its first daily closing below 100-day SMA since early December on Tuesday.

AUD/USD News

USD/JPY drops to weekly low near 109.80 as fears of SARS return remain in focus

USD/JPY extends the previous day’s losses to 109.80, the weakest since January 07, while entering the Asian session on Wednesday. The pair registered heavy losses on Tuesday as news of China’s virus outbreaks gone viral.

USD/JPY News

Chinese virus dampens market sentiment

Global stocks are on the slide, with fear over the impact of the coronavirus that is spreading throughout China. A strong UK jobs report has helped push the pound higher. Meanwhile, plans for a US middle class tax cut is strengthening the case for US outperformance under Trump.

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Gold: Stays below $1,560 following Tuesday’s bearish spinning top

Gold remains on the back foot while trading around $1,556.90 during the Asian session on Wednesday. The yellow metal portrayed a bearish candlestick formation, backed by bearish MACD, during the previous day.

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GBP/USD: Aims to revisit 200-hour SMA, immediate support trendline

GBP/USD registers mild losses while trading around 1.3045 during Wednesday’s Asian session. The pair earlier reversed from 50% Fib retracement of its fall from Jan 07 to 14. A two-week-old falling trend line adds to the resistance.

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