SGD/INR Exchange rate

AUD/USD catches fresh bids and tests 0.6450 early Wednesday. Renewed US Dollar weakness on trade tensions over China outweigh the RBA's dovish outlook and the domestic political turmoil, aiding the pair's fresh leg higher. Focus remains on tariff talks and Fedspeak. 

USD/JPY breaks below144.00 despite the disappointing release of Japan's trade balance data, as hawkish BoJ expectations continue to underpin the Japanese Yen. Meanwhile, the US Dollar extends losses amid Fed rate cut bets and a downgrade of the US government's credit rating, exerting additional pressure on the major.

Gold price is extending its upswing into the third consecutive day in Asian trading on Wednesday. Buyers look to regain the $3,300 on a sustained basis amid persistent US Dollar weakness and heightened geopolitical tensions.

The United Kingdom will release the Consumer Price Index (CPI) data for April on Wednesday at 06:00 GMT. The Inflation, as measured by the CPI, is foreseen to have risen by 1.1% on a monthly basis, much higher than the 0.3% posted in March. The annual figure is expected to be 3.3%, also higher than the previous 2.6%.

Trade war uncertainty is denting Chinese confidence, resulting in slower economic activity in April. Retail sales and fixed-asset investment both underperformed forecasts amid heightened caution. Yet the impact on manufacturing was less than feared.