Switzerland Exports (MoM) dipped from previous 24140M to 23158M in July

EUR/USD manages to regain the smile on Wednesday, trading with decent gains around 1.1650, or daily peaks. The pair's daily advance comes in response to further losses in the US Dollar as market participants get ready for the upcoming FOMC gathering, where the Fed is widely expected to lower its interest rates by a quarter point.

GBP/USD sets aside two daily declines in a row and trades with modest gains just above 1.3300 the figure on Wednesday. Cable’s better tone comes on the back of some selling pressure hurting the Greenback prior to the FOMC event. Next on tap across the Channel will be the GDP figures on Friday.

Gold trades slightly on the back foot on Wednesday amid a weaker US Dollar and the continuation of the upside momentum in US Treasury yields across the curve. The precious metal remains cautious ahead of the expected 25 bps rate cut by the Fed and the release of the updated “dots plot”.

The United States (US) Federal Reserve (Fed) will announce its interest rate decision on Wednesday, with markets widely expecting the US central bank to deliver a final 25 bps cut for 2025.

Bitcoin holds above $92,000, supported by ETF inflows and hopes of a potential Fed interest rate cut. Ethereum rises above the 50-day EMA as the MACD and RSI signal a bullish turnaround. XRP trades under pressure as sellers target $2.00 support despite mild ETF inflows.

Hyperliquid is trading above $28.00 at the time of writing on Wednesday, after rebounding from support at $27.50. The broader cryptocurrency market is characterised by widespread intraday losses ahead of the Fed monetary policy decision.