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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 holds a positive bias for the fourth straight day, trading above 0.7000 in the Asian session on Wednesday and near the monthly high set the previous day after RBA Deputy Governor Andrew Hauser's hawkish remarks. Meanwhile, the US Dollar attracts some buyers as energy-driven inflation fears keep bets for at least one Fed rate hike in 2026 firmly on the table. Moreover, geopolitical uncertainty is acting as a tailwind for the safe-haven buck and caps gains for the Aussie.
USD/JPY attracts some dip-buyers during the Asian session on Wednesday, though it remains confined within a multi-week range as the uncertainty over the timing of the next BoJ rate hike keep Japanese Yen bulls on the defensive. Meanwhile, hawkish Fed expectations, bolstered by inflation risks stemming from volatile oil prices, underpin the US Dollar. However, looming intervention fears could limit JPY losses and cap the currency pair.
Gold remains depressed for the fourth straight day, flirting with the weekly low during Wednesday’s Asian session, with bears awaiting a sustained break below $4,100 before placing fresh bets. Energy-driven inflation fears keep Fed hike bets firmly on the table, reviving US Dollar demand and undermining the non-yielding bullion. However, an unconfirmed report of US-Iran diplomacy could cap the safe-haven buck, which could offer some support to the precious metal.
The Elon Musk-founded SpaceX reports third-quarter results after Tuesday's session. The figure that decides the next month for the stock isn't in them. On Thursday, the second full trading day after the release, up to 1.3 billion shares held by employees and early investors become eligible for sale.
