The USD/JPY pair loses ground to around 157.65 during the Asian trading hours on Wednesday. The US Dollar (USD) weakens against the Japanese Yen (JPY) after US President Donald Trump announces a pause on 'Project Freedom' in the Strait of Hormuz.

China's Services Purchasing Managers' Index (PMI) rose to 52.6 in April from 52.1 in March, the latest data published by RatingDog showed on Wednesday.  

Bitcoin (BTC) treasury firm Strategy on Tuesday reported its first-quarter results, highlighting a significant unrealized loss on its BTC holdings even as the company continued to expand its balance sheet and scale its Digital Credit offerings.

China RatingDog Services PMI climbed from previous 52.1 to 52.6 in April

USD/CAD extends its losses for the second successive day, trading around 1.3600 during the Asian hours on Wednesday. The pair retreats as the US Dollar (USD) softens on reduced safe-haven demand, driven by rising optimism over a potential deal with Tehran.

The GBP/USD pair attracts buyers for the second consecutive day on Wednesday and moves away from the weekly low, around the 1.3515-1.3510 area, which was touched the previous day.

The EUR/USD pair attracts some buyers to around 1.1720 during the Asian trading hours on Wednesday, bolstered by improved risk sentiment. US President Donald Trump said the Project Freedom and movement of ships through the Strait of Hormuz had paused.

AUD/USD gains ground for the second successive day, trading around 0.7220 during the Asian hours on Wednesday.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8562 compared to last Friday's fix of 6.8628 and 6.8160 Reuters estimate.

The NZD/USD pair is seen building on the previous day's goodish rebound from the vicinity of mid-0.5800s, or the weekly low, and gaining positive traction for the second straight day on Wednesday.

Bitcoin's (BTC) persistent negative funding rates could be a good entry zone for buyers, according to a K33 report on Tuesday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $97.50 during the early Asian trading hours on Wednesday. The WTI price falls amid easing tensions in the Middle East.

Ireland AIB Services PMI declined to 49.7 in April from previous 50.7

US President Donald Trump said that the US military will temporarily pause "Project Freedom" to restore freedom of navigation for commercial shipping through the Strait of Hormuz, the Guardian reported on Tuesday.

US Secretary of Defense Pete Hegseth said that the US-Iran ceasefire "certainly holds" for now, Bloomberg reported on Tuesday.

Gold price (XAU/USD) trades in positive territory near $4,575 during the early Asian session on Wednesday. The precious metal edges higher as markets weigh developments in the Iran war. Traders will keep an eye on the US ADP Employment Change report, which is due later on Wednesday. 

South Korea Consumer Price Index Growth (MoM) meets expectations (0.5%) in April

South Korea Consumer Price Index Growth (YoY) meets forecasts (2.6%) in April

New Zealand’s Unemployment Rate fell to 5.3% in the first quarter (Q1) of 2026 from 5.4% in the fourth quarter of 2025, according to the official data released by Statistics New Zealand on Wednesday. The figure came in below the market consensus of 5.4%.

USD/JPY advances some 0.48% on Tuesday as the Greenback remained steady during the session following last Thursday’s intervention in the FX markets by Japanese authorities, which bought the Yen, with the pair tanking nearly 2.50% or almost 400 pips. At the time of writing, the pair trades at 157.91.

National Bank of Canada (NBC) strategists Stéfane Marion and Kyle Dahms argue that the Chinese Yuan's (CNY) strength reflects more than US Dollar (USD) softness, pointing to growing energy-settlement flows and improving Chinese manufacturing and Producer Price Index (PPI) data.

New Zealand Participation Rate registered at 70.4%, below expectations (70.5%) in 1Q

New Zealand Employment Change below expectations (0.3%) in 1Q: Actual (0.2%)

New Zealand Unemployment Rate came in at 5.3%, below expectations (5.4%) in 1Q

New Zealand Labour Cost Index (YoY) meets forecasts (2%) in 1Q

New Zealand Labour Cost Index (QoQ) came in at 0.5%, above expectations (0.4%) in 1Q

GBP/USD ended Tuesday near where it started, settling close to 1.3545 after a narrow session capped by resistance around 1.3550. Price has held a roughly 60-pip range across the past two sessions, with overlapping wicks pointing to a market lacking conviction in either direction.