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ADP: Private sector employment increased by 234,000 jobs in January

According to the ADP National Employment Report released this Wednesday, private sector employment in the US increased by 234,000 jobs from December to January, down from 250,000 reported last month but still better than 185,000 consensus estimates. 

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Haresh Menghani

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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AUD/USD meets fresh supply and tests 0.7100 amid weak Australian PMIs

AUD/USD has come under fresh selling pressure and is testing 0.7100 in the Asian session on Wednesday. Australia's flash PMIs showed manufacturing slipped into contraction and services expanding slowly for a second straight month, renewing the pair's downside. Furthermore, a bullish US Dollar acts as a headwind for the pair as traders keenly await the crucial Trump-Xi summit on Thursday. Meanwhile, markets shrug off US-Iran indirect talks.

USD/JPY stands firm near mid-157.00s, close to two-week high

USD/JPY hovers around mid-157.00s in the Asian session on Wednesday, near two-week highs touched last Friday as the BoJ's dovish rate hike continues to undermine the Japanese Yen. Meanwhile, the US Dollar remains firm amid the Fed's hawkish stance, adding support to the pair, though JPY intervention fears cap further gains. Markets pay little heed to the completion of the round of US-Iran indirect talks ahead of Trump-Xi meeting.

Gold approaches $4,300 as Fed hike bets boost USD to fresh high since late July

Gold extends its steady intraday slide through the first half of the European session, reversing a part of the previous day's recovery from sub-$4,300 levels. US Dollar buying remains unabated on the back of the Federal Reserve's hawkish outlook, which is seen as a key factor driving flows away from the non-yielding yellow metal.

Bitcoin outperforms US equities and Gold since mid-August
Bitcoin (BTC) extends its rally, trading above $86,000 at the time of writing on Wednesday after gaining more than 6% so far this week. Strong institutional demand is supporting BTC’s bullish price action, with spot Exchange Traded Funds (ETFs) recording over $714 million in inflows on Tuesday after nearly $1 billion in positive flows the previous day.
S&P Global PMIs expected to show resilient US economic growth in September
S&P Global will release on Wednesday its preliminary September Purchasing Managers' Indices (PMIs) for the United States, based on surveys of top private sector executives, to provide an early indication of economic momentum. The data is expected to highlight US economic resilience.
BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.