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FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
AUD/USD is sitting at two-month lows near 0.6950 in the Asian session on Wednesday, as below-expectations August Australian underlying CPI data pours cold water on expectations for further RBA interest rate hikes. Chinese PMI data also fail to inspire the Australian Dollar, despite a pause in the US Dollar advance.
USD/JPY keeps losses below 157.00 in the Asian session on Wednesday, as hawkish BoJ expectations, along with intervention risks, underpin the Japanese Yen, countering dismal domestic factory output and retail sales data. Meanwhile, a broad US Dollar retreat also collaborates to the pair's downside.
Gold extends its recovery early in the American session, trading above the $4,200 mark. Falling US bond yields drag the US Dollar away from the two-month high, touched on Tuesday, and act as a tailwind for the commodity. Softer than anticipated US inflation, as measured by the PCE Price Index, adds to the broad US Dollar's weakness.
Bitcoin trades lethargically on Wednesday, with bulls battling to defend the immediate $83,000 level as immediate support. Ethereum trades in tandem with Bitcoin, holding below key levels of $2,700 on the upside and $2,600 on the downside. Ripple, meanwhile, hovers near $1.50,
Inflation in Germany, as measured by the change in the Consumer Price Index, climbed to 3.3% (preliminary) in September from 2.9% in August, Germany's Destatis reported on Wednesday.
