The focus now shifts to the FOMC minutes

The greenback held its range-bound sentiment unchanged at recent highs amid continued expectations for a 25bps rate cut in November and growing caution ahead of the release of the FOMC minutes (Wednesday) and then CPI data from USA (Thursday). ).

Here’s what you need to know on Wednesday, October 9:

The US dollar index (DXY) rose marginally and held business near recent highs well above the 102.00 barrier ahead of key US data releases. The release of the FOMC minutes will take center stage, followed by Wholesale Inventories, the weekly MBA Mortgage Applications and the EIA’s weekly report on US crude oil supplies. In addition, Jefferson, Logan, Barkin, Goolsbee, Williams and Collins of the Fed must speak.

EUR/USD ended Tuesday’s session with modest losses following a failed attempt to retest the 1.1000 barrier earlier in the session. Germany’s trade balance is secondary to the ECB Elderson speech.

GBP/USD advanced modestly, although it was enough to reverse a five-day losing streak. The next note on the UK calendar will be the release of GDP figures on 11 October.

USD/JPY partially recovered the ground lost on Monday and regained the area beyond the 148.00 hurdle. Machine tool orders are next to tap on the Japanese file.

AUD/USD further extended its leg lower and approached the key support region at 0.6700. The RBA’s Kent speech is due

WTI prices rose to fresh two-month highs, breaking above $78.00 a barrel, although they eventually succumbed to renewed and strong selling pressure on the back of a likely ceasefire in the Middle East.

Gold prices fell for a fifth straight day, this time revisiting three-week lows near the $2,600 per troy ounce mark. Silver prices tumbled nearly 4% to three-week lows near the key $30.00 an ounce threshold.