WTI declines despite rising US-Iran tensions threaten
West Texas Intermediate (WTI) oil price depreciates after three days of gains, trading around $93.90 during Asian hours on Thursday.
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West Texas Intermediate (WTI) oil price depreciates after three days of gains, trading around $93.90 during Asian hours on Thursday.

A Reuters poll showed the Bank of Japan (BoJ) will hike interest rates to 1.25% at its September policy meeting and then to 1.75% in the second quarter (Q2) of 2027, earlier than previously expected, amid persistent concerns over broadening price pressures and Japanese Yen (JPY) weakness.

The Australian Dollar is virtually unchanged against the US Dollar on Wednesday amid a light economic calendar, with the US Treasury's announcement of a buyback for the September 10 auction boosting the Greenback. The AUD/USD trades at 0.7219, flat.

The real tension weighing on GBP/USD is a rate parity that masks a divergence. Both central banks sit at 3.75%.

EURUSD | Bearish Breakdown Continuation & Downside Potential Setup Fundamental EURUSD is trading in a sensitive environment as markets react to developments in the U.S. Treasury market and shifting interest-rate expectations. The expanded U.S. Treasury buyback program takes effect on September 9, making bond-market developments an important driver for the U.S. dollar and Treasury yields. However, the immediate currency reaction remains uncertain, as market conditions can change depending on …

US President Donald Trump crossed the wires on Wednesday, saying that the Iran war will end “immediately” right after the US midterm elections. He said that Iranians are “desperate to try and affect the election,” told to reporters before leaving for the Republican National Convention in Dallas.

GBP/JPY falls for the third straight day, but it fails to register a lower low, an indication that buyers are stepping in but lack the strength to push the exchange rate past Wednesdays opening price, leaving the pair near this week's lows. The cross-pair trades at 208.05, down 0.22%.

DBS Group Researchs Chang Wei Liang notes that USD/KRW has fallen toward 1340 in a steady decline since late June, reflecting earlier optimism on the Korean Won from a booming memory sector and strong investment plans.

The Mexican Peso clings to gains against the US Dollar on Wednesday following the presentation of Mexicos government fiscal package in Congress, while traders await the release of US inflation data. The USD/MXN trades at 16.89, down 0.09% near yearly lows.

West Texas Intermediate (WTI) settled just above $94.00, up better than 2% and at its best level since May 22.

Societe Generales Dev Ashish reports that the Central Bank of Chile kept the monetary policy rate at 4.50% in September, as weak domestic growth offsets rising external inflation risks. The bank highlights disappointing activity, deteriorating labour markets and anchored inflation expectations.

Silver (XAG/USD) price makes a U-turn on Wednesday and rises over 3.40% as the Greenback weakens, putting the confirmation of a ‘head-and-shoulders’ chart pattern on hold, which has formed since mid-August. The XAG/USD pair trades at $68.00 after rebounding off $65.31.

EUR/USD struggles to extend its earlier gains on Wednesday as the US Treasurys bond-buyback announcement sparks a brief bout of volatility, pushing Treasury yields higher and helping the US Dollar (USD) trim its losses.

ING economists Carsten Brzeski and Franziska Biehl argue that while German inflation is set to rise above 3% and stay elevated into year-end, a repeat of 2022s double-digit surge is unlikely.

The Dow Jones Industrial Average trades roughly 440 points lower and under 52,400, and its session high sits within two points of the opening print.

AUD/USD stabilizes around 0.7220 at the time of writing on Wednesday, after hitting a fresh four-month high at 0.7237 earlier in the day. The Australian Dollar (AUD) loses some momentum as the US Dollar (USD) rebounds, supported by rising US Treasury yields.

Pairs on Watch - FX:NZDUSD : So far this is developing as forecasted in the SMB at the weekend. We have a healthy 50% pullback with this structured 123 drive into the volatility wick from last week. The higher timeframe makes a lot of sense for that next leg higher and now it is a case of waiting for the entry. I will be looking for a simple 15M insurance entry for the long once the 1H has followed through. FX:AUDCAD : This pair is positioned really well for both the long and short at the …

Pairs on Watch - FX:AUDCAD : The main high above has been near missed with a corrective move away, which could be signalling a potential middle section for a move higher. However, we can see a three touch structure which is hard to ignore, therefore I am looking to sell but I will adjust the type of entry I am looking for. A small stack of price once the 1H commits on this structure would confirm what I need, this prevents a tag in and out with the higher timeframe taking over. FX:EURNZD …

The GBP/USD pair trades in positive territory around 1.3550 during the early European trading hours on Wednesday. UK Chancellor John Healey unveiled a series of measures designed to encourage economic growth and draw more private investment into the UK.

The Indian Rupee (INR) extends its decline against the US Dollar (USD) on Wednesday after a sharp correction the previous day. The USD/INR pair jumps marginally above 95.00 as surging energy prices have battered the Indian currency significantly.