Asia

  • Ahead of the open on Wall Street, it has been a risk-on day with stocks and commodity dollars rising, and yen falling. The AUD was the strongest and EUR the weakest ahead of the ECB rate decision on Thursday.

  • USD shrugged off Trump's latest criticism of the Fed, after he labelled the central bank policymakers as ‘boneheads' and called for zero interest rates or lower. US headline (0.1%m/m) and core PPI (0.3%) both came in ahead of expectations. CPI is due tomorrow.

  • GBP stalled after recent sharp gains, allowing the FTSE to shine.

  • US crude oil Inventories due at 15:30 BST – the data is expected to reveal oil stocks declined by 2.7 million barrels last week following a 4.8 million drawdown the week before.

fxsoriginal

Corporate news courtesy of colleague Ken Odeluga:

  • Hong Kong stock exchange group has made a £32bn bid for LSE owner London Stock Exchange Group. It's worth £20.45 per shares plus 2.495 new HKEX shares for every LSEG share, or £83.61/share all in. The UK company traded at £72.50 early in the afternoon, up 6%. A shortfall between an offer price and market price typically suggests investors don't currently expect a deal to be done. LSEG said it "remains committed to and continues to make good progress on its proposed acquisition of Refinitiv Holdings (formerly Thomson Reuters' data division)."

  • UK construction equipment leasing firm Ashtead was another European stock market standout, rising as much as 4%, the most since June, after an initial volatile reaction on Tuesday following quarterly results.

  • World High Life will be the first Cannabis stock to list in London. The investment company will set its market value at £11m, with a view to capitalising further from its focus on the European and Canadian medicinal pot markets.

  • U.S. pre-market action incudes a 3% rise by troubled retailer J.C. Penny above its consensus price target for the first time in 11 weeks. With little company specific news, JCP's rise may be related to Tuesday's sharp rotation into 'value' stocks. Early Wednesday indications suggest that the move to favour cheaper, higher-yielding shares over long-standing 'momentum' outperformers, may already be fizzling out just a day later.

  • Among bigger movers, GE-owned oil rig group Baker Hughes looks set to drop when Wall Street opened after warning that its third quarter could be hit by geopolitics and toughening industry trends

Risk Warning Notice Foreign Exchange and CFD trading are high risk and not suitable for everyone. You should carefully consider your investment objectives, level of experience and risk appetite before making a decision to trade with us. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any off-exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of the markets that you are trading. Margin and leverage To open a leveraged CFD or forex trade you will need to deposit money with us as margin. Margin is typically a relatively small proportion of the overall contract value. For example a contract trading on leverage of 100:1 will require margin of just 1% of the contract value. This means that a small price movement in the underlying will result in large movement in the value of your trade – this can work in your favour, or result in substantial losses. Your may lose your initial deposit and be required to deposit additional margin in order to maintain your position. If you fail to meet any margin requirement your position will be liquidated and you will be responsible for any resulting losses.

Analysis feed

Latest Forex Analysis

Editors’ Picks

AUD/USD: Buyers and sellers jostle around 0.6600 as coronavirus keeps the driver’s seat

AUD/USD carries the New York session’s downbeat sentiment forward while taking rounds to 0.6600 at the start of the Asian session on Wednesday. While the coronavirus-led risk-off keeps the risk barometer under pressure, weakness in the US dollar restricted the pair’s losses.

AUD/USD News

USD/JPY consolidates losses but bears keep the baton amid coronavirus fears

USD/JPY consolidates losses to 110.20 amid the initial Asian session on Wednesday. That said, the pair portrayed the broad risk-off, led-by coronavirus fears, while declining for the third day in a row during the previous day.

USD/JPY News

Dollar domination set to continue, with or without coronavirus fears

The coronavirus-related fall in US bond yields has been weighing on the US dollar. Nevertheless – and despite worries coming from Markit's PMIs – the greenback is set to gain more ground.

Read more

Gold: Pares early losses, still in the red below $1650 level

Gold extended previous day's intraday retracement slide from multi-year tops and witnessed some follow-through long-unwinding trade on Tuesday.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex Majors

Cryptocurrencies

Signatures