The market simply can’t get away from needing to reprice Fed rate cut bets, and this ongoing repricing has been driving yield differentials further in the US Dollar’s favor while opening added downside pressure on stocks.

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AUD/USD trades around 0.6660 after another uneventful session

AUD/USD trades around 0.6660 after another uneventful session

The AUD/USD pair remained away from investors’ radar and holds on to familiar levels in the 0.6660 region. Australian calendar has nothing to offer on Wednesday, but the RBNZ monetary policy decision may spur action.

AUD/USD News

EUR/USD lacks directional strength, hovers around 1.0850

EUR/USD lacks directional strength, hovers around 1.0850

The EUR/USD pair extended its consolidative phase for the second consecutive day as financial markets missed a clear catalyst. Attention flips to the FOMC Meeting Minutes scheduled for mid-Wednesday.

EUR/USD News

Gold steadies around $2,420 ahead of FOMC Minutes

Gold steadies around $2,420 ahead of FOMC Minutes

Gold gained traction and climbed to $2,430 area in the American session, turning positive on the day. The pullback in the benchmark 10-year US Treasury bond yield helps XAU/USD stage a rebound following the sharp retreat seen from the all-time high set at the weekly opening at $2,450.

Gold News

Ethereum could see new all-time high following Fidelity and Grayscale updates on ETF application

Ethereum could see new all-time high following Fidelity and Grayscale updates on ETF application

Ethereum (ETH) continued its rally on Tuesday following filings on the Securities & Exchange Commission's (SEC) website showing Fidelity and Grayscale filed an amended S-1 registration and initial 19b-4, respectively, for their spot ETH ETF products.

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UK: Due in large part to the base effect, CPI is forecast down to 2.1% from 3.2%

UK: Due in large part to the base effect, CPI is forecast down to 2.1% from 3.2%

Another handful of Fed speakers. As we saw yesterday, the latest stance is “not yet.” In the UK, tomorrow we get CPI. Due in large part to the base effect, CPI is forecast down to 2.1% from 3.2% and core, to 3.6% from 5.2%.

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