Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD declines to near 1.3500 as US-Iran tensions rise

The GBP/USD pair declines to near 1.3500 during the early European trading hours on Wednesday. Ongoing tensions in the Middle East provide some support to a safe-haven currency such as the US Dollar against the British Pound. All eyes will be on the US August jobs report later on Friday.

EUR/USD weakens below 1.1600; further consolidation cannot be ruled out

The EUR/USD pair loses traction to near 1.1575 during the early European session. The US Dollar strengthens against the Euro amid hawkish Federal Reserve stance and escalating Middle East geopolitical tensions. Traders will keep an eye on the Eurozone Retail Sales and US employment data, which are due on Friday.

Gold: Hawkish Fed prospects drag further below $4,300

Gold extends its decline on Wednesday, facing enormous pressure due to surging United States Treasury Yields and rising oil prices. In Asian trade on Wednesday, 10-year US Treasury Yields hit a record high at 4.81%, the highest level seen since November 2023. In Wednesday’s session, investors will keep an eye on the US ADP Employment Change data for August.

WTI advances to mid-$90.00s, fresh high since July 24 amid escalating US-Iran tensions

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – scales higher for the third straight day – also marking the fifth day of a positive move in the previous six – and climbs to a fresh high since July 24 during the Asian session on Wednesday.

Top 3 Price Prediction: BTC, ETH, XRP under pressure as momentum indicators flag early bearish signals

Bitcoin, Ethereum, and Ripple remain under pressure, with technical indicators suggesting early weakening momentum across the top three cryptocurrencies following massive gains in August. BTC shows early bearish signals, while ETH has extended its pullback after rejection near $2,500. Meanwhile, XRP is consolidating below key support, keeping the outlook cautious.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.