Market Roundup
• Australia CPI (QoQ) (Q3): 1.3%, 1.1% forecast, 0.7% previous.
•Australia CPI (YoY) (Q3): 3.2%, 3.0% forecast, 2.1% previous.
•Australia CPI Index Number (Q3): 143.60, 141.70 previous.
•Australia Trimmed Mean CPI (YoY) (Q3): 3.0%, 2.7% forecast, 2.7% previous.
•Australia Trimmed Mean CPI (QoQ) (Q3): 1.0%, 0.8% forecast, 0.6% previous.
•Australia Weighted Mean CPI (YoY) (Sep): 3.5%, 3.1% forecast, 3.0% previous.
•Australia Weighted Mean CPI (QoQ) (Q3): 1.0%, 0.6% previous.
•Australia Weighted Mean CPI (YoY) (Q3): 2.8%, 2.7% forecast, 2.7% previous.
Looking Ahead Economic Data (GMT)
• 08:00 Spanish GDP (YoY) (Q3): 3.1% previous.
• 08:00 Spanish GDP (QoQ) (Q3): 0.6% forecast, 0.8% previous.
• 08:00 Spanish Retail Sales (YoY) (Sep): 4.5% previous.
• 09:00 Italian Trade Balance Non-EU (Sep): 1.78B previous.
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD : The euro edged lower on Wednesday as investors awaited a widely anticipated interest rate cut from the U.S. Federal Reserve. The Fed is expected to lower rates by 25 basis points at the conclusion of its policy meeting later in the day, with markets closely watching Fed Chair Jerome Powell’s remarks for guidance on the future policy outlook.In contrast, the European Central Bank (ECB) and Bank of Japan (BOJ) are both expected to keep interest rates unchanged at their respective meetings this week.Meanwhile, U.S. President Donald Trump and Chinese President Xi Jinping are scheduled to meet on Thursday to discuss a potential trade deal framework that could halt additional U.S. tariffs and China’s rare-earth export curbs a move that has lifted investor sentiment and eased concerns over escalating trade tensions. Immediate resistance can be seen at 1.1662(50%fib), an upside break can trigger rise towards 1.1728(Oct 17th high).On the downside, immediate support is seen at 1.1561(61.8%fib), a break below could take the pair towards 1.1523(Lower BB).
GBP/USD: The pound dipped against the dollar on Wednesday ahead of a widely expected interest rate cut from the Federal Reserve. The U.S. Federal Reserve on Wednesday will kick off a string of policy announcements this week by global central banks, including in Japan, Canada and Europe.The Fed is widely expected to cut interest rates at the meeting, with markets pricing in a 99.9% chance for a rate cut of 25 basis points, according to CME's FedWatch Tool.Expectations for a lower path of interest rates from the central bank, along with recent signs of easing trade tensions between the U.S. and China, have helped to boost the markets' risk appetite. Immediate resistance can be seen at 1.3386(SMA 20), an upside break can trigger rise towards 1.3399(SMA 20).On the downside, immediate support is seen at 1.3294(23.6%fib), a break below could take the pair towards 1.3265(Lower BB).
AUD/USD: The Australian dollar surged to a three-week high on Wednesday after a stronger-than-expected core inflation reading led traders to scale back expectations for a rate cut at next week’s Reserve Bank of Australia (RBA) meeting.Data from the Australian Bureau of Statistics showed consumer prices rose 1.3% in the third quarter, exceeding forecasts for a 1.1% increase and marking the fastest quarterly rise in more than two years. Annual CPI inflation accelerated to 3.2% from 2.1%, boosted by higher housing and travel costs, as well as base effects and the partial unwinding of earlier energy rebates.RBA Governor Michele Bullock had earlier remarked that a 0.9% core inflation reading would represent a “material miss.” The stronger data prompted investors to sharply reduce bets on near-term easing, with markets now largely ruling out a rate cut at the upcoming policy meeting. Immediate resistance can be seen at 0.6617(38.2%fib), an upside break can trigger rise towards 0.6660(Sep 17th high).On the downside, immediate support is seen at 0.6579(Daily low), a break below could take the pair towards 0.6547(38.2%fib)
USD/JPY: The U.S. dollar slipped slightly on Wednesday as traders positioned ahead of the Bank of Japan’s (BOJ) policy decision later this week. The yen gained around 0.5% on Tuesday after U.S. Treasury Secretary Scott Bessent urged Japan’s government to give the central bank more flexibility to raise interest rates.The remarks came just before the BOJ’s two-day policy meeting, which concludes on Thursday, where markets broadly expect policymakers to keep rates unchanged. Bessent’s comments also add complexity for Japan’s new Prime Minister, Sanae Takaichi, who is known for supporting expansionary fiscal and monetary policies.Meanwhile, U.S. President Donald Trump and Prime Minister Takaichi met on Tuesday, agreeing to strengthen bilateral cooperation through new trade and critical minerals agreements signaling closer economic ties between Washington and Tokyo amid shifting global dynamics. Immediate resistance can be seen at 153.27(23.6%fib) an upside break can trigger rise towards 154.00 (Psychological level) .On the downside, immediate support is seen at 151.58 (38.2%fib) a break below could take the pair towards 151.00 (Psychological level).
Equities Recap
Asian shares rose on Wednesday as investor sentiment improved ahead of a packed trading day featuring the U.S. Federal Reserve’s policy decision and quarterly earnings from major technology giants.
South Korea’s KOSPI up down 1.41% ,China’sA50 traded up 0.13 ,Japan’s Nikkei 225 was down 2.07 %
Commodities Recap
Gold prices edged higher on Wednesday as investors awaited a widely anticipated interest rate cut from the Federal Reserve.
Spot gold was up 0.2% at $3,957.42 per ounce, as of 0257 GMT, after dropping to its lowest point since October 7 on Tuesday.U.S. gold futures for December delivery eased 0.3% to $3,971.20 per ounce.
Oil prices ticked higher on Wednesday after three consecutive sessions of losses, supported by reports of a decline in U.S. crude inventories.
Brent crude futures rose 20 cents, or 0.31%, to $64.60 a barrel at 0203 GMT. U.S. West Texas Intermediate crude futures rose 18 cents, or 0.3%, to $60.33.
