USD/CAD trades below 1.2850 after FOMC’s Minutes

The greenback trades lower on the FOMC’s minutes but the US Dollar Index remains near multi-week highs.
USD/CAD remains in a trading range between the 1.2750 and 1.2900 levels

Flavio Tosti Independent Analyst

The USD/CAD established a high of the day at 1.2917 in the American session and then retreated back below the 1.2850 level after the FOMC's minutes. The Loonie is currently trading at around 1.2834 up 0.12% on Wednesday.

In fact, the FOMC’s minutes revealed that it would “soon be appropriate to hike", however, comments such as “many saw little evidence of overheating of the labor market with wage pressures still moderate” left traders with the impression that the Fed was not in a strong rush to hike.

In fact, most market participants "bought the rumor and sold the fact" as the US dollar traded down across the board after the report. However, it is worth noting that the greenback is still trading at multi-week highs.

USD/CAD 4-hour chart

USD/CAD remains rather neutral trading in a range between the 1.2750 and 1.2900 levels. The main moving averages are flat and key supports are seen at the 1.2800 handle and at 1.2750 level while resistances are seen at the 1.2900 and 1.3000 figure.

Author

Flavio Tosti

Independent Analyst

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.