BNY’s Geoff Yu argues that coordinated intervention has not significantly increased foreign exposure to the Japanese Yen (JPY), with investors still net long JPY but at much lower levels than in H1 2026.

Dow Jones futures rise 0.23% to trade around 54,390 during European hours on Wednesday. Meanwhile, S&P 500 futures gain 0.34% to trade near 7,790, while Nasdaq 100 futures advance 0.14%, trading near 29,900.

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for July on Wednesday.

The Euro (EUR) holds marginal gains against the US Dollar (USD) on Wednesday, with the EUR/USD pair consolidating around the 1.1530 area, a few pips below seven-week highs at 1.1558.

Gold (XAU/USD) maintains its strong bid tone through the first half of the European session and currently trades around $4,170, just below a nearly one-month high touched earlier this Wednesday.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann notes AUD/USD rebounded strongly to close at 0.7047 after an overdone retreat, with short‑term momentum building.

EUR/JPY holds ground after registering over 0.5% gains in the previous day, trading around 182.00 during the European hours on Wednesday.

The USD/CHF pair reverses a modest intraday dip and touches a fresh daily high during the early European session on Wednesday, though it remains below the 0.8100 mark.

ING analysts Warren Patterson and Ewa Manthey note that Brent has dropped below $80 per barrel as markets price in a potential short-term US-Iran deal that could reopen the Strait of Hormuz.

The Japanese Yen (JPY) gives back its early gains and flattens at around 157.70 against the US Dollar (USD) during the European trading session on Wednesday.

Deutsche Bank strategists highlight a broad-based rally in global equities as lower Oil prices, easing inflation expectations and resilient US data support risk appetite. The S&P 500 and major European indices hit or approached record highs, while Asian benchmarks also advanced.

The US Dollar (USD) appreciates for the fourth consecutive day against a weaker Canadian Dollar (CAD) on Wednesday, with the USD/CAD pair pushing against weekly highs at 1.4080 at the time of writing.

Rabobank’s Brazil weekly notes that the Brazilian Real (BRL) recently appreciated to BRL 5.0587 per Dollar, ranking among the top emerging-market performers.

Silver (XAG/USD) builds on the previous day's modest gains and attracts strong follow-through buying for the second straight day on Wednesday. The positive momentum lifts the white metal to the $62.00 neighborhood – the highest level since July 7 – during the early European session.

TD Securities’ macro team, led by Jayati Bharadwaj and colleagues, argues that recent Dollar weakness after the July FOMC is a short-lived retracement within a broader Q3 2026 USD uptrend.

The Indian Rupee (INR) surrenders mild gains after a strong opening against the US Dollar (USD), following the Reserve Bank of India’s (RBI) monetary policy decision.

The British Pound (GBP) claws back its early losses against the Japanese Yen (JPY) and edges higher to near 212.25 during the European trading session on Wednesday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $74.50 during the early European trading hours on Wednesday. WTI declines on mixed US-Iran messages.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann analysts report GBP/USD traded quietly between 1.3423 and 1.3456 after a prior spike to 1.3506. They expect near‑term consolidation in a 1.3425–1.3470 band.

The Euro (EUR) remains practically flat against the British Pound (GBP) on Wednesday, trading at 0.8573 at the time of writing and holding gains from the last two days after bouncing from the 0.8540 area on Friday.

Commerzbank’s Thu Lan Nguyen argues that the recent historic intervention in USD/JPY, powered by US Treasury participation, may not secure a lasting Japanese Yen (JPY) recovery.

Here is what you need to know on Wednesday, August 5:

Danske Research Team describes a strong global equities session driven by reduced downside risks rather than upgraded growth expectations. Easing concerns over the Iran conflict and the AI bubble compressed risk premia, lifting global equities close to a 15% year‑to‑date return.

Michael Wan at MUFG notes Brent has dropped below US$80 as hopes rise for a deal to reopen the Strait of Hormuz.

The GBP/USD pair posts modest gains near 1.3455 during the early European session on Wednesday, bolstered by softer US economic data and cooling US-Iran tensions. Traders brace for the US ADP Employment and ISM Services Purchasing Manager Index (PMI) reports, which are due on Wednesday.

The US Dollar Index (DXY) edges lower for the second consecutive day on Wednesday, after failing to consolidate above the 100.00 level on Monday.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlights that EUR/USD firmed to 1.1529, with short‑term momentum turning slightly higher. They see scope for the Euro to edge up but doubt an intraday break of 1.1565, with 1.1545 as nearer resistance and 1.1515/1.1500 as supports.

AUD/USD moves little after registering over 0.5% gains in the previous day, trading around 0.7050 during the Asian hours on Wednesday. The technical analysis of the daily chart shows that the pair is remaining within the ascending channel pattern, suggesting a prevailing bullish bias.

The Euro (EUR) trades marginally higher at around 1.1536 against the US Dollar (USD) during the European trading session on Wednesday.

The NZD/USD pair weakens to near 0.5870 during the early European trading hours on Wednesday. The New Zealand Dollar attracts some sellers against the US Dollar (USD) after New Zealand’s unemployment rate climbs to the highest in 11 years.