Australian GDP expands 0.1% QoQ in Q1 vs. 0.2% expected

Australia’s Gross Domestic Product (GDP) grew 0.1% QoQ in the first quarter of 2024 compared with the 0.2% growth in Q4 of 2023, the Australian Bureau of Statistics (ABS) showed on Wednesday.

China’s Caixin Services PMI jumps to 54.0 in May vs. 52.6 expected

China's Services Purchasing Managers' Index (PMI) jumped from 52.5 in April to 54.0 in May, the latest data published by Caixin showed on Wednesday.

USD/INR weakens despite India's May Services PMI cools to five-month low

Indian Rupee (INR) trims losses on Wednesday after facing some selling pressure in the previous session.

Australian Dollar appreciates due to hawkish comment from RBA Governor Bullock

The Australian Dollar (AUD) gains ground as the Reserve Bank of Australia (RBA) Governor Michele Bullock stated on Wednesday that the central bank is prepared to increase interest rates if the Consumer Price Index (CPI) does not return to the target range of 1%-3%, as reported by NCA NewsWire.

Forex Today: Attention shifts to high-tier US data and BoC rate decision

Here is what you need to know on Wednesday, June 5: Following the sharp decline seen on Monday, the US Dollar (USD) Index edged slightly higher on Tuesday but failed to gather momentum amid retreating US Treasury bond yields.

Gold price remains capped in a familiar trading range ahead of US Services PMI data

Gold price (XAU/USD) came under renewed selling pressure on Tuesday and dropped to the $2,316-2,315 area, back closer to a multi-week low touched the previous day in the wake of a modest US Dollar (USD) strength.

ECB’s Kazimir believes that central bank is nearing its first interest rate cut

European Central Bank (ECB) policymaker and Slovakian central bank Governor Peter Kazimir said on Wednesday, he “believes that ECB is nearing its first interest rate cut.” “Inflation is on a good trajectory,” Kazimir said while presenting the Slovakian central bank's financial stability report (FSR).

Japanese Yen edges lower due to investors' caution ahead of US Services PMI

The Japanese Yen (JPY) edges lower on Wednesday due to investors' caution ahead of key US data releases later in the day, including the US ADP Employment Change and ISM Services PMI reports.

Silver price today: Silver rises, according to FXStreet data

Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data.

Natural Gas ticks up on traders betting on rate cut potential in US

Natural Gas price (XNG/USD) trades roughly flat at around $2.70 during the European trading session on Wednesday. The price action is starting to turn choppy with market participants starting to unwind their overextended long positions in Natural Gas