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Forex Today: Focus shifts to Fed and BoC policy decisions
Here is what you need to know on Wednesday, October 29:
Fxstreet
Wed, Oct 29
EUR/GBP holds positive ground above 0.8750, traders brace for ECB rate decision
The EUR/GBP cross posts modest gains near 0.8785 during the early European session on Wednesday. The Euro (EUR) edges higher against the Pound Sterling (GBP) ahead of the European Central Bank (ECB) later on Thursday.
EUR/GBP
Fxstreet
Wed, Oct 29
USD/CHF gains slightly to near 0.7940, investors await Fed’s policy
The USD/CHF pair rises slightly to near 0.7940 during the late Asian trading session on Wednesday. The Swiss Franc pair gains as the US Dollar (USD) trades marginally higher ahead of the monetary policy announcement by the Federal Reserve (Fed) at 18:00 GMT.
USD/CHF
Fxstreet
Wed, Oct 29
USD/INR opens higher ahead of Fed’s monetary policy
The Indian Rupee (INR) declines at open against the US Dollar (USD) on Wednesday. The USD/INR jumps to near 88.50, while the US Dollar trades slightly higher ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
Fxstreet
Wed, Oct 29
EUR/JPY slips below 177.00 as traders adopt caution ahead of upcoming BoJ decision
EUR/JPY continues to lose ground for the second consecutive day, trading around 176.90 during the Asian hours on Wednesday. The currency cross weakens as the Japanese Yen (JPY) gains ground, with investors positioning ahead of the Bank of Japan’s (BoJ) policy decision on Thursday.
EUR/JPY
Fxstreet
Wed, Oct 29
EUR/USD softens below 1.1650 ahead of Fed rate decision
The EUR/USD pair loses ground to near 1.1635 during the Asian trading hours on Wednesday. Optimism surrounding US-China trade deals weighs on the riskier currency, like the Euro (EUR) against the US Dollar (USD).
EUR/USD
Fxstreet
Wed, Oct 29
NZD/USD sits near three-week top; stays below 0.5800 amid modest USD uptick, ahead of Fed
The NZD/USD pair touches a nearly three-week high during the Asian session on Wednesday, though it lacks follow-through buying and remains below the 0.5800 round figure.
NZD/USD
Fxstreet
Wed, Oct 29
GBP/USD falls to near 1.3250 due to increased BoE rate cut bets, Fed policy awaited
GBP/USD loses ground for the second successive session, trading around 1.3250 during the Asian hours on Wednesday.
GBP/USD
Fxstreet
Wed, Oct 29
USD/CAD holds losses below 1.3950 ahead of policy decisions from Fed, BoC
USD/CAD extends its losses for the third successive day, trading around 1.3940 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) remains subdued ahead of the US Federal Reserve (Fed) policy decision due later in the day.
USD/CAD
Fxstreet
Wed, Oct 29
Japanese Yen retreats from one-week high against USD; focus remains on Fed/BoJ decisions
The Japanese Yen (JPY) attracts strong follow-through buyers for the second straight day and climbs to a one-week high against a softer US Dollar (USD) during the Asian session on Wednesday.
USD/JPY
Fxstreet
Wed, Oct 29
Australian Dollar gains following Consumer Price Index data
The Australian Dollar (AUD) advances against the US Dollar (USD) on Wednesday following the release of Australia’s Consumer Price Index (CPI) data. Additionally, the AUD/USD pair also receives support from decreasing bets on rate cuts by the Reserve Bank of Australia (RBA).
AUD/USD
Fxstreet
Wed, Oct 29
PBOC sets USD/CNY reference rate at 7.0843 vs. 7.0856 previous
On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.0843 compared to the previous day's fix of 7.0856 and 7.0962 Reuters estimate.
USD/CNH
Fxstreet
Wed, Oct 29
NZD/USD Price Forecast: Rises ahead of Fed as USD softens
The Kiwi Dollar edges up 0.23% on Tuesday as the Greenback weakens ahead of the Federal Reserve’s monetary policy meeting on Wednesday, at which the central bank is expected to cut rates by 25 basis points. The NZD/USD trades at 0.5783 at the time of writing.
NZD/USD
Fxstreet
Tue, Oct 28
GBP/JPY Price Forecast: Sinks nearly 200 pips, tests 202.00
The GBP/JPY plunged sharply on Tuesday, close to 200 pips or 0.97% as the cross-pair slides below the 202.00 milestone, for the first time since last Friday. At the time of writing, the pair trades at 201.94 virtually unchanged, as Wednesday’s Asian session begins.
GBP/JPY
Fxstreet
Tue, Oct 28
USD/JPY weakens below 152.50 as Japan’s Takaichi eases policy concerns
The USD/JPY pair attracts some sellers to around 152.20 during the early Asian session on Wednesday. The Japanese Yen (JPY) strengthens against the US Dollar (USD) after officials ease policy concerns.
USD/JPY
Fxstreet
Tue, Oct 28
EUR/USD inches higher as US–China optimism pressures US Dollar
EUR/USD registers modest gains on Tuesday, yet it remains trading within familiar levels amid the lack of catalysts as the US government remains shut. However, upbeat news regarding the US-China trade war, weakened the Dollar and boosted the Euro. The pair trades at 1.1654, up 0.09%.
EUR/USD
Fxstreet
Tue, Oct 28
Australia CPI expected to edge higher ahead of RBA rate decision
Australia will release inflation updates on Wednesday, one week ahead of the Reserve Bank of Australia (RBA) monetary policy meeting, scheduled for November 3-4.
AUD/USD
Fxstreet
Tue, Oct 28
FX Today: The Fed and the BoC are expected to lower their rates
In quite a volatile day, the US Dollar (USD) traded with modest losses, maintaining a gradual decline so far this week, always amid a steady market caution ahead of the Federal Reserve (Fed) event on Wednesday, where a 25-basis-point rate cut is fully priced in.
EUR/USD
US Dollar Index
Fxstreet
Tue, Oct 28
AUD/USD firms as traders brace for Australia Q3 inflation data and Fed decision
The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Tuesday, extending its winning streak for the fifth consecutive session as the Greenback stays under pressure ahead of the Federal Reserve’s (Fed) interest rate decision on Wednesday.
AUD/USD
Fxstreet
Tue, Oct 28
USD/JPY declines near 152.00 as Yen strengthens on US-Japan trade progress
USD/JPY falls sharply to around 152.15 on Tuesday at the time of writing, down 0.47% for the day, as the Japanese Yen (JPY) outperforms most of its peers.
USD/JPY
Fxstreet
Tue, Oct 28
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