Daily market news

The NZD/USD pair remains on the defensive near 0.5970 during the Asian trading hours on Wednesday.

The GBP/USD pair weakens around 1.3010 despite the consolidation of the US Dollar (USD) during the early European session on Wednesday.

The EUR/USD pair recovers to around 1.0820 during the early Asian session on Wednesday.

The Pound Sterling climbed past 1.3000 for the first time in five days after a US jobs report increased the chances that the Federal Reserve (Fed) would cut rates at the last two meetings in 2024.

Silver price (XAG/USD) discovers strong buying interest in Tuesday’s North American session as the United States (US) Bureau of Labor Statistics (BLS) has reported weak set of JOLTS Job Openings data for September.

The EUR/JPY pair aims to extend its rally above the immediate resistance of 166.00 in Tuesday’s North American.

ECB VP Guindos remarked that despite evidence that the disinflationary process in the Eurozone was ‘well on track’, there were substantial risks around the outlook for prices, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is marginally higher on the day so far.

Silver prices bounce up on higher demand for safe assets as the US elections approach.

EUR/USD gains slightly near the round-level figure of 1.0800 in Tuesday’s European session.