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US Dollar poised ahead of Fed, ADP data in focus – Commerzbank
US Dollar poised ahead of Fed, ADP data in focus – Commerzbank
With a December Fed rate cut almost fully priced, market attention is shifting to the outlook for 2026, as expectations of a more dovish Fed could weigh on the dollar in the months ahead.
DollarIndex
Banks
Fed
Gold steadies as mixed US data and dovish Fed expectations pressure the Dollar
Gold steadies as mixed US data and dovish Fed expectations pressure the Dollar
Gold (XAU/USD) firms as traders react to the latest US economic releases. At the time of writing, XAU/USD is trading around $4,225, edging modestly higher after briefly slipping below the $4,200 psychological level earlier in the day.
Gold
SEO
XAUUSD
Technical Analysis
Fed
AUD/USD approaches 0.6600 as US Dollar underperforms
AUD/USD approaches 0.6600 as US Dollar underperforms
The AUD/USD pair extends its winning streak for the ninth trading day on Wednesday.
AUDUSD
Fed
RBA
Employment
GDP
USD retreats amid Hassett Fed chair speculation – BBH
USD retreats amid Hassett Fed chair speculation – BBH
US Dollar (USD) is down across the board, global equity markets are up, and bond markets are steady.
DollarIndex
Fed
Banks
USD slides as Hassett emerges as Fed chair favorite – ING
USD slides as Hassett emerges as Fed chair favorite – ING
The US Dollar (USD) sold off in Asia as news emerged that interviews for the Fed chair position had been cancelled, ING's FX analyst Chris Turner notes.
DollarIndex
Banks
Technical Analysis
Fed
US ADP Employment Change falls by 32,000 in November vs. 5,000 expected gain
US ADP Employment Change falls by 32,000 in November vs. 5,000 expected gain
Private employers shed 32,000 jobs in November, the Automatic Data Processing (ADP) reported on Wednesday. This reading followed the 47,000 increase (revised from 42,000) recorded in October and came in below the market expectation of 5,000 growth. During the period, the annual pay was up 4.4%.
UnitedStates
Employment
EURUSD
DollarIndex
Fed
Change
EUR: November eurozone inflation meets expectations – Commerzbank
EUR: November eurozone inflation meets expectations – Commerzbank
Eurozone inflation for November came in largely as expected, with headline at 2.2% y/y and core at 2.4%, leaving the ECB’s policy stance unchanged.
EURUSD
Banks
Technical Analysis
ECB
ECB’s Lane: Monetary policy should remains steady unless there is large deviation
ECB’s Lane: Monetary policy should remains steady unless there is large deviation
European Central Bank (ECB) executive board member and Chief Economist Philip Lane said during the European trading session that monetary policy adjustments are required only if there is a large and persistent deviation in economic data.
ECB
EURUSD
InterestRate
USD/CHF weakens amid Fed rate cut expectations, mixed Swiss CPI
USD/CHF weakens amid Fed rate cut expectations, mixed Swiss CPI
USD/CHF stabilizes above 0.8000 on Wednesday, trading near 0.8010 at the time of writing, down 0.25% on the day.
Global central banks boost Gold buying in October – ING
Global central banks boost Gold buying in October – ING
Central banks added a net 53 tonnes of Gold to reserves in October, marking the strongest monthly increase since November 2024, with Poland and Brazil leading the charge.
Gold
XAUUSD
Banks
Commodities
Metals
Silver extends uptrend towards $59.90 – Société Générale
Silver extends uptrend towards $59.90 – Société Générale
Silver continues its rally, approaching the upper band of a multi-month ascending channel near $59.60/59.90, after breaking out of a brief consolidation, Société Générale's FX analysts note.
Banks
Silver
Technical Analysis
XAGUSD
Metals
UpTrend
Dollar continues to ease lower to start December trading
Dollar continues to ease lower to start December trading
No love for the dollar in starting the final month of the year
Forex
USD
China: November PMIs point to further slowdown – ABN AMRO
China: November PMIs point to further slowdown – ABN AMRO
November PMIs point to further weakening of growth momentum. Both manufacturing PMIs in contraction territory, divergence narrows. Services and composite PMIs also came down. More targeted support expected to safeguard GDP growth in 2026, ABN AMRO's Senior Economist Arjen van Dijkhuizen reports.
PMI
China
Banks
GDP
Manufacturing
The INR falls to a new all-time low with RBI expected to cut the repo rate on Friday
The INR falls to a new all-time low with RBI expected to cut the repo rate on Friday
The Indian Rupee continues to weaken amid RBI rate cut speculations and the central bank's inability to stop the depreciation. What's next?
Eurozone October PPI +0.1% vs +0.1% m/m expected
Eurozone October PPI +0.1% vs +0.1% m/m expected
Latest data released by Eurostat - 3 December 2025
Silver price today: Silver falls, according to FXStreet data
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $58.05 per troy ounce, down 0.89% from the $58.57 it cost on Tuesday.
Silver
Commodities
Metals
UK November final services PMI 51.3 vs 50.5 prelim
UK November final services PMI 51.3 vs 50.5 prelim
Final data released by S&P Global - 3 December 2025
Pound Sterling outperforms US Dollar ahead of US ADP Employment data
Pound Sterling outperforms US Dollar ahead of US ADP Employment data
The Pound Sterling (GBP) trades 0.5% higher to near 1.3280 against the US Dollar (USD) during the European trading session on Wednesday.
GBPUSD
Fed
BOE
Employment
SEO
USD/JPY pauses ahead of BoJ rate decision – OCBC
USD/JPY pauses ahead of BoJ rate decision – OCBC
USD/JPY traded subdued at 155.70 as markets await the December BoJ rate hike, with momentum mildly bearish and RSI slipping, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USDJPY
Technical Analysis
Banks
BOJ
AUD/USD holds key support at 0.6410 – Société Générale
AUD/USD holds key support at 0.6410 – Société Générale
AUD/USD bounced off the August lows at 0.6410 and reclaimed its 200-day moving average, signaling short-term bullish potential, Société Générale's FX analysts note, Société Générale's FX analysts note.
AUDUSD
Banks
Technical Analysis
China affirms 5% growth target for 2026 – Reuters
China affirms 5% growth target for 2026 – Reuters
A report from Reuters has stated that Chinese officials have provided suggestions on how a 5% Gross Domestic Product (GDP) growth rate can be achieved in 2026 too.
China
GDP
AUDUSD
USD subdued amid lack of fresh catalysts – OCBC
USD subdued amid lack of fresh catalysts – OCBC
US Dollar (USD) traded subdued overnight, in absence of fresh catalyst while most major central bank decisions are largely priced. The Dollar Index (DXY) last seen at 99.19 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
DollarIndex
Banks
Technical Analysis
Fed
USD/CNH extends its slow grind lower – ING
USD/CNH extends its slow grind lower – ING
USD/CNH continues to edge lower, a trend that began even before broader US Dollar (USD) weakness, as exporter flows and possible portfolio inflows support the renminbi, ING's FX analyst Chris Turner notes.
Banks
USDCNY
China
USDCNH
Technical Analysis
European Gas prices slide to 8-month low – ING
European Gas prices slide to 8-month low – ING
European natural Gas prices extended their decline, with TTF falling to its lowest level since April as unseasonably mild weather curbs demand, ING's commodity experts Ewa Manthey and Warren Patterson note.
Gas
Banks
Commodities
Energy
Europe
EUR/USD extends gains ahead of US employment, services data
EUR/USD extends gains ahead of US employment, services data
EUR/USD extends gains against the US Dollar and trades at fresh one-month highs near 1.1670 at the time of writing.
EURUSD
ECB
Fundamental Analysis
Technical Analysis
SEO
AUD dips on soft GDP, quickly rebounds – OCBC
AUD dips on soft GDP, quickly rebounds – OCBC
The Australian Dollar (AUD) briefly fell after a softer-than-expected GDP print, but strong private demand and resilient consumption helped the currency reverse losses.
AUDUSD
Banks
Technical Analysis
Australia
RBA: Eye on the prize – Standard Chartered
RBA: Eye on the prize – Standard Chartered
Australia’s economy remains robust, despite a moderation in Q3 growth (0.4% q/q SA). Standard Chartered's economists' baseline remains for the RBA to maintain the cash rate at 3.60% at its 9 December meeting.
Banks
RBA
Australia
InterestRate
GDP
Oil: Brent slides to lowest since October – ING
Oil: Brent slides to lowest since October – ING
Oil prices traded lower yesterday, with ICE Brent hitting its lowest level since late October, ING's commodity experts Ewa Manthey and Warren Patterson note.
Oil
Banks
Commodities
Brent
Energy
China: CPI inflation likely picked up in November – Standard Chartered
China: CPI inflation likely picked up in November – Standard Chartered
Official manufacturing PMI improved modestly to 49.2 in November, indicating still-soft momentum. Production activity likely stayed steady, while investment may have contracted further. Base effect likely boosted retail sales growth; trade growth may have improved on easing trade uncertainty.
China
Banks
Manufacturing
Growth
GDP
EUR/USD gains as hedging costs drop sharply – ING
EUR/USD gains as hedging costs drop sharply – ING
EUR/USD advanced in Asia as sharply lower USD hedging costs for eurozone investors—now down to 1.85% from 2.40%—boosted demand for the single currency alongside improved terms of trade.
EURUSD
Banks
Technical Analysis
Switzerland November CPI 0.0% vs +0.1% y/y expected
Switzerland November CPI 0.0% vs +0.1% y/y expected
Latest data released by the Federal Statistical Office - 3 December 2025
What are the main events for today?
What are the main events for today?
The highlights include the Swiss CPI, the US ADP and the US ISM Services PMI
market overview
GBP/JPY holds above 206.00; upside seems capped as BoJ rate hike bets underpin JPY
GBP/JPY holds above 206.00; upside seems capped as BoJ rate hike bets underpin JPY
The GBP/JPY cross trades with a positive bias for the second straight day on Wednesday and climbs back above the 206.00 mark during the early part of the European session.
GBPJPY
BOE
InterestRate
BOJ
Currencies
NZD/USD holds positive ground above 0.5750 on upbeat Chinese Services PMI data
NZD/USD holds positive ground above 0.5750 on upbeat Chinese Services PMI data
The NZD/USD pair attracts some buyers to around 0.5750 during the early European session on Wednesday. The upbeat Chinese economic data provides some support to the China-proxy Kiwi against the US Dollar (USD).
NZDUSD
Macroeconomics
Majors
China
PMI
Broker Rebates