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EUR/USD holds steady near 1.0850 ahead of Eurozone PMIs
EUR/USD oscillates near 1.0850 in the early European session on Wednesday, flirting with two-week lows. The pair turns cautious ahead of preliminary Eurozone PMI data while the US Dollar faces fresh selling amid the USD/JPY slide. US PMIs eyed as well.
GBP/USD remains pressured below 1.2900, UK/ US PMIs eyed
GBP/USD remains under pressure below 1.2900 early Wednesday. Broad risk-aversion offsets the USD/JPY decline-driven US Dollar weakness, rendering negative for the pair. The focus now shifts to the UK and US S&P Global PMI readings.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold stays hopeful above $2,400, as US PMI data loom
Gold price is looking to build on the previous rebound above $2,400 in Asian trading on Wednesday, despite a buoyant tone seen around the US Dollar and the US Treasury bond yields. Gold traders now look forward to the global preliminary business PMI data for fresh trading impetus.
PEPE price poised for a rally after retesting trendline support
PEPE price broke out of a descending channel pattern, surging by 12%, but is experiencing a corrective pullback, trading 2.3% lower at $0.0000121 as of Wednesday.
Bank of Canada: Rate cut expected; forward guidance eyed
The Bank of Canada will take centre stage at 13:45 GMT. Alongside the rate decision, the central bank will deliver the rate statement and the Monetary Policy Report, released quarterly and providing investors with a glimpse of what the central bank expects in Q3.