News

Netherlands, The Manufacturing Output (MoM) up to 0.2% in October from previous 0.1%

The AUD/JPY cross loses traction to around 104.00, snapping the six-day winning streak during the early European session on Wednesday. Deeper-than-expected producer deflation data from China undermines the China-proxy Australian Dollar (AUD) against the Japanese Yen (JPY).

The AUD/USD pair is seen consolidating its recent strong gains to the highest level since September 18, touched the previous day, and seesaws between tepid gains/minor losses through the Asian session on Wednesday.

The Nasdaq’s recent rally has been impressive, but the index is now confronting the same premium zone that triggered a sell-off earlier.

Washington believes Indonesia is ‘backsliding’ on removing non-tariff barriers to U.S. industrial and agricultural exports, among other things, FT reported.

American Airlines (AAL) maintains a bullish sequence from the April 4 low, supporting prospects for further upside. A 100% Fibonacci extension projects a target of $16.8, reinforcing the constructive technical outlook.

• China November CPI +0.7% vs +0.7% expected
• China likely to cut RRR rate next year – report
• Japan PM Takaichi asked about rising yields, says closely watching market moves
• Zelensky signals Ukaine’s answer to Trumps peace plan will come Wednesday
• Trump: I hear that autopen might have signed the appointments of Fed board governors
• Japan November corporate goods prices index +2.7% vs +2.7% expected
• Japanese Reuters Tankan December manufacturing +10 vs +17 prior
• Trump to kick off final Fed interviews this week: Hassett remains in poll position
• Trump says he will be meeting with “a couple” people for the Fed chair job
• New Zealand October migration +2400

Markets:

• Gold down $3 to $4206
• US 10-year yields down 0.4 bps to 4.18%
• WTI crude up 7 cents to $58.32
• S&P 500 futures flat
• JPY leads, NZD lags

There wasn’t much in terms of market moves to start the day. The main one was silver hitting a fresh record high above $61 but it was fleeting move and it’s now given back most of the gains. What got some of the market’s attention was Trump talking about Biden using autopen to appoint Fed Governors. That’s being taken as a joke and it should be noted that they’re approved by Congress so it’s hardly like undoing an executive order. In any case, it’s another example of how badly Trump wants lower rates.

In China, the CPI headline was in-line but the m/m reading was soft and so was PPI. That’s couple with fresh stimulus talk in China and a report about an RRR cut. It all tees up an interesting 2026 as some recent profit taking has hit Chinese stock markets.

Looking ahead, it’s Fed day but we will also look out for Zelensky’s response to Trump’s peace plan. Optimism is low but you never know.

This article was written by Adam Button at investinglive.com.

Gold prices fell in Pakistan on Wednesday, according to data compiled by FXStreet.

Gold prices fell in India on Wednesday, according to data compiled by FXStreet.

The EUR/USD pair trades flat around 1.1625 during the early European session on Wednesday. Markets turn cautious ahead of the US Federal Reserve (Fed) interest rate decision later on Wednesday, in which a 25 basis points (bps) rate cut is almost fully priced in.