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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 renewing 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 struggles to capitalize on the previous day's recovery from an eight-week low, consolidating below $4,200 during the Asian session on Wednesday. The overnight slide in oil prices eased the US Treasury bond rout, supporting the bullion. However, Fed rate-hike bets and inflationary concerns keep bond yields near multi-year highs. Moreover, geopolitical uncertainties underpin the safe-haven US Dollar, which, in turn, caps the commodity.
