On Wednesday, the Australian Dollar (AUD) continued its winning streak, registering gains for the fifth consecutive day. This upward movement is linked to an increased risk appetite in the market and a rise in commodity prices.
During Wednesday's Asian session, the USD/CAD pair hit a nine-week low at 1.3541 and is presently trading below 1.3550. The decrease in the USD/CAD pair is linked to the accommodative comments made by US Federal Reserve (Fed) Governor Christopher Waller.
During Wednesday's Asian session, the EUR/USD extended its winning streak for the fifth consecutive session, currently trading around 1.1000. The positive momentum in the EUR/USD pair is driven by a softer US Dollar (USD), influenced by a less hawkish stance from the US Federal Reserve (Fed).
The Gold price (XAU/USD) continues to advance, extending the breakout momentum through the $2,008-2,010 horizontal barrier and climbing higher for the fifth consecutive day on Wednesday. This positive trend marks the sixth day of gains in the previous seven, propelling the commodity to a nearly seven-month peak around the $2,052 area during the Asian session.