Forex
The Euro (EUR) maintains a moderate negative tone against the US Dollar (USD) on Wednesday, trading within a tight range around 1.1700.
Indices
Deutsche Bank strategists note that United States (US) equities turned lower as AI-related worries resurfaced after a report that OpenAI missed internal 2025 targets.
Forex
Here is what you need to know on Wednesday, April 29:
Forex
EUR/JPY depreciates after three days of gains, trading around 186.70 during European hours on Wednesday. The technical analysis of the daily chart indicates the currency cross is positioned slightly below the ascending channel, signaling a possible bearish reversal.
Equities
The Nasdaq 100 remains in a firm uptrend despite renewed AI bubble concerns triggered by OpenAI-related headlines. Losses were quickly trimmed, reinforcing underlying bullish momentum. Semiconductor stocks continue to lead the rally without exhibiting peak-cycle warning signals, while market breadth stays healthy. Technically, the index holds within an ascending channel, with 26,760 as key support and further upside potential toward higher resistance levels.
West Texas Intermediate (WTI) oil price remains in the negative territory after experiencing volatility, trading around $97.00 per barrel during the Asian hours on Wednesday.
Forex
The USD/JPY pair struggles to capitalize on the previous day's goodish rebound from sub-159.00 levels, touched in reaction to the Bank of Japan's (BoJ) hawkish pause, and oscillates in a range during the Asian session on Wednesday.
Forex
The EUR/USD pair consolidates around 1.1700, inside Tuesday’s trading range, during the Asian trading session on Wednesday.
Commodities
Silver (XAG/USD) edges higher during the Asian session on Wednesday, though it lacks follow-through as traders opt to move to the sidelines ahead of the crucial FOMC policy update.
Forex
The Australian Bureau of Statistics (ABS) will publish its data for March on Wednesday at 01.30 GMT. The Consumer Price Index (CPI) is expected to see a rise of 4.7% YoY in March, compared to 3.7% in February.
