Potential for the further drop due to the breakout of the rising channel and downside momentum...
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EUR/USD treads water above 1.1050 amid cautious markets
EUR/USD is trading with caution above 1.1050 on Wednesday's European morning. The pair remains undermined by sustained US Dollar strength, in the face of the Middle East conflict and pre-ADP data nervousness. Speeches from ECB and Fed policymakers will be also eyed.
GBP/USD stays depressed below 1.3300 on tepid risk sentiment
GBP/USD stays depressed below 1.3300 in European trading on Wednesday. The cautious trading could be attributed to risk aversion due to the rising geopolitical tensions in the Middle East, which underpins the safe-haven US Dollar at the expense of the risk-sensitive Pound Sterling.
Gold price edges lower on firmer US Dollar, geopolitical risks might cap its downside
Gold price ticks lower during the early European session on Wednesday and erodes a part of the previous day's strong gains of over 1%, triggered by a further escalation of geopolitical tensions in the Middle East.
ADP report expected to show US private employment rose by 120,000 in September
The ADP Research Institute will release its monthly report on private-sector job creation for September on Wednesday. The so-called ADP Employment Change report is expected to show that the US added 120,000 new positions in September after creating 99,000 jobs in August.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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