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NZD/USD holds strong gains near 0.6150 as RBNZ Orr's speaks
NZD/USD is consolidating the rally near the 0.6150 level after the RBNZ held the interest rate at 5.50% but upgraded its peak OCR forecast from 5.60% to 5.61% in September 2024, implying chances of another 25 bps hike in the offing. Governor Orr's presser is underway.
AUD/USD edges higher toward 0.6700, tracking Kiwi's RBNZ-led rally
AUD/USD is edging higher toward 0.6700 in Asian trading on Wednesday, picking up fresh bids in tandem with the NZD/USD pair. The Kiwi rallies on the hawkish RBNZ hold decision. Renewed US Dollar weakness also supports the pair ahead of the Fed Minutes.
Gold price clings to mild losses ahead of FOMC Minutes
Gold price trades on a negative note on Wednesday after retreating from a record high on Monday. Members of the Federal Reserve warned that the US central bank needed much more convincing that inflation was easing before it could begin cutting interest rates, emphasizing the Fed is likely to keep rates higher for longer.
DeFi and Layer 2 coins rally following Ethereum's rise
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The UK Office for National Statistics will publish the CPI report on Wednesday. United Kingdom’s headline and core annual inflation are likely to fall sharply in April. The UK CPI data could affirm BoE June interest rate cut expectations.