USD/JPY drifts lower for the third successive day and drops to a one-week low. Rebounding US bond yields lends support to the USD and limit further losses. Traders look to the US ADP report and the ISM Services PMI for fresh impetus. (FXStreet)

EUR/USD adds to the weekly uptrend and approaches 1.1000. Final Services PMIs in the euro area and the US are due later. Markets’ attention will also be on the US ADP report. (FXStreet)

GBP/USD oscillates in a narrow trading band through the early European session on Wednesday. A combination of factors lends some support to the USD and acts as a headwind for the major. Bets for an imminent Fed rate-hike pause continue to cap the buck and help limit the downside. (FXStreet)

USD/CAD struggles to extend the previous day’s rebound from seven-week low. One-week-old descending resistance line challenge Loonie pair buyers. Bullish MACD signals, RSI recovery from oversold territory facilitate upside momentum. (FXStreet)

The index navigates with humble gains around 101.60. US yields remain depressed in multi-day lows. ADP report, ISM Non-Manufacturing take centre stage later. The USD Index (DXY), which tracks the greenback vs. a bundle of its main rivals, trades with marginal gains and looks to consolidate the recent pullback on Wednesday. (FXStreet)

USD/CHF seesaws around 20-month low, snaps two-day downtrend amid sluggish markets. Cautious mood ahead of top-tier US data, corrective bounce in yields allow Swiss Franc pair to stabilize at multi-month low. Downbeat US data, challenges to USD’s reserve currency status challenge weigh on USD/CHF pair. (FXStreet)

AUD/USD takes offers to refresh intraday low during two-day downtrend. 200-EMA prods Aussie pair’s fall inside one-month-old ascending trend channel. Impending bear cross on MACD lures sellers but 0.6670 is the key to confirming bearish trend. (FXStreet)

USD/MXN struggles to extend two-day uptrend as steady RSI joins five-week-old horizontal resistance to prod buyers. Convergence of previous resistance line from March 20, one-month-old ascending support line challenges Mexican Peso bulls. Bullish MACD signals, sustained trend line breakout keeps pair buyers hopeful. (FXStreet)

USD/INR is declining toward 82.00 as investors are yet to discount the overnight sell-off in the USD Index. Weak US Job Openings data is indicating that the tight US labor market is cooling-off. S&P500 futures have added nominal gains after a bearish Tuesday, portraying caution in the overall market mood. (FXStreet)

NZD/JPY takes a U-turn from the key EMAs to renew multi-day top after RBNZ move. RBNZ surprises markets by announcing 0.50% rate hike, the 11th consecutive rate increase. Given the sustained bounce of the 50-EMA, 200-EMA, backed by upbeat RSI, the bulls are likely to keep the reins. (FXStreet)

AUD/NZD has dived to near 1.0618 as the RBNZ has hiked rates by 50 bps to 5.25%. RBNZ Governor Adrian Orr went for a bumper rate hike as NZ’s inflation has remained extremely sticky. RBA Lowe would deliver guidance on interest rates and the economic outlook. (FXStreet)

NZD/USD picks up bids to reverse early-day pullback from a seven-week high on RBNZ rate hike. RBNZ announces 50 bps rate increase to defy market expectations, the 11th in a row. Corrective bounce in yields, US Dollar challenge Kiwi pair buyers. US ISM Services PMI, ADP Employment Change will be crucial for clear directions amid broad USD weakness. (FXStreet)

Prices of the barrel of the WTI maintained the bid bias on Tuesday and added to the ongoing rally amidst rising open interest. The latter underpins the view that the commodity could extend the upside in the very near term, although the sharp decline in volume and the proximity of the overbought territory (as per the daily RSI) could spark some fresh selling. In the meantime, there is a firm hurdle at the 200-day SMA around $83.80, an area coincident with the December 2022 peaks. (FXStreet)

Natural Gas is facing hurdles in extending its recovery above $2.16. A delay in the summer season in North America has postponed the requirement of natural gas for cooling homes. The USD index has shown some recovery after printing a fresh monthly low at 101.45. (FXStreet)

Gold price is continuously auctioning above $2,020 ahead of US labor market data. S&P500 futures remained choppy in the Asian session after sensing selling pressure on Tuesday, indicating a quiet market mood. The Services PMI is seen declining to 54.5 from the former release of 55.1. (FXStreet)

Source: FXStreet, DailyFX

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