AUD/JPY retraces its recent losses registered in the previous session, trading around 94.50 during the Asian hours on Wednesday. The currency cross appreciates as the Japanese Yen (JPY) faces challenges following the recent comments from the US President Donald Trump.

The USD/CHF pair consolidates in a narrow band above the 0.7900 mark during the Asian session on Wednesday and remains close to its lowest level since September 2011 touched the previous day.

The Indian Rupee (INR) ticks down against the US Dollar (USD) at open on Wednesday. The USD/INR edges higher to near 85.75 as the US Dollar strives to gain ground after the release of the surprisingly upbeat US JOLTS Job Openings data for May.

Gold prices remained broadly unchanged in India on Wednesday, according to data compiled by FXStreet.

EUR/USD halts its winning streak that began on June 18, trading around 1.1800 during the Asian hours on Wednesday. The pair inches lower after marking 1.1830, the highest since September 2021, recorded on Tuesday, which could be attributed to the slight gains in the US Dollar (USD).

The GBP/USD pair trades on a flat note near 1.3745 during the Asian trading hours on Wednesday. However, the dovish remarks from the US Federal Reserve (Fed) Chair Jerome Powell and rising fiscal worries might weigh on the Greenback in the near term.

Canada's Chief Trade Negotiator and ambassador in Washington said in an interview with the Globe and Mail early Wednesday that “Canada is still aiming to get all of Trump’s tariffs lifted as part of a deal with the White House later this month.”

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining steady and is trading around 96.70 during the Asian hours on Wednesday. Traders will likely observe the US ADP Employment Change report for June later in the day.

The Japanese Yen (JPY) edges lower during the Asian session on Wednesday and moves away from a nearly one-month high touched against its American counterpart the previous day.

The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Wednesday following the release of weaker-than-expected domestic economic data. However, the AUD/USD pair gained ground as the US Dollar (USD) remains subdued amid rising odds of the Federal Reserve (Fed) cutting interest rates.

Australia’s Retail Sales, a measure of the country’s consumer spending, rose 0.2% MoM in May, compared to a decline of 0.1% in April, the official data published by the Australian Bureau of Statistics (ABS) showed on Wednesday.

Australia Retail Sales s.a. (MoM) below forecasts (0.4%) in May: Actual (0.2%)

Australia Building Permits (YoY): 6.5% (May) vs previous 7.6%

Australia Building Permits (MoM) came in at 3.2%, below expectations (4.8%) in May

The NZD/USD pair attracts some buyers to around 0.6105 during the early European session on Wednesday. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) as the Federal Reserve (Fed) rate cut bets rise.

The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.1546 as compared to the previous day's fix of 7.1534 and 7.1623 Reuters estimate.

US Treasury Secretary Bessent spoke late Tuesday in an interview with Fox. Bessent said that he believes the Federal Reserve (Fed) will cut interest rates earlier than the fall, but they will definitely cut rates by September at the latest. 

Argentina Tax Revenue (MoM) increased to 16184B in May from previous 15863B

GBP/USD poked into its highest bids in 45 months on Tuesday, knocking a few inches closer to four-year highs as the US Dollar’s broad-market pummeling continues unabated.

Japan Monetary Base (YoY): -3.5% (June) vs previous -3.4%

The USD/CAD pair trades with mild gains near 1.3645 during the early Asian session on Wednesday. The US Dollar (USD) pares losses against the Canadian Dollar (CAD) after data showed a better-than-expected increase in labor market demand.

South Korea Consumer Price Index Growth (YoY) above expectations (2.1%) in June: Actual (2.2%)

South Korea Consumer Price Index Growth (MoM) meets forecasts (0%) in June

US President Donald Trump late Tuesday claimed that Israel agrees to a 60-day Gaza ceasefire proposal, adding he hopes that Qataris and Egyptians will deliver the final deal. 

United States Total Vehicle Sales came in at 15.3M below forecasts (15.5M) in June

The NZD/JPY consolidates during the week, although it posted losses of over 0.44% on Tuesday, on solid Japanese economic data. Additionally, the risk-off mood, which has boosted safe-haven peers like the Yen, exerted downward pressure on the cross-pair, which trades at 87.41, virtually unchanged.

The Australian Dollar (AUD) is steady against the US Dollar (USD) on Tuesday, with AUD/USD bulls eyeing a potential breakout above 0.6600.