The U.S. dollar slid to two-week lows against the yen on Wednesday after data showed private-sector jobs in the world's largest economy contracted last month, boosting expectations the Federal Reserve will cut interest rates two more times this year. Against the euro and sterling, the dollar fell to one-week troughs in the wake of the jobs data. Data showed that U.S. private employment shrank by 32,000 jobs last month after a downwardly revised 3,000 decline in August, according to the ADP National Employment Report on Wednesday. Economists polled by Reuters had forecast private employment...
AUD/USD extends its bull run for the fourth day in a row on Wednesday, reclaiming the area above the key 0.6600 barrier, always amid the persistent offered stance in the US Dollar as investors gauge the impact of the recently announced US federal government shutdown. The Australian Dollar (AUD) halted its strong recovery on Wednesday, prompting AUD/USD to keep its trade around the 0.6600 region following a brief knee-jerk below that key level. The pair's U-turn came from a vacillating US Dollar (USD), which managed to set aside the initial bearish tone despite mixed US data releases and...
Oil held a run of losses after US crude inventories expanded for the first time in three weeks, ahead of an OPEC+ meeting on the weekend that will likely lead to the return of more idled supply. West Texas Intermediate traded below $62 after tumbling 6% over the previous three sessions. Brent closed near $65 on Wednesday. US crude stockpiles rose by 1.79 million barrels last week, while gasoline inventories swelled the most since late June, according to Energy Information Administration data. The Organization of the Petroleum Exporting Countries and its allies are expected...