During the Asian session, the key data to watch will be Australian inflation figures. Later in the day, Japan will release the Leading Economic Index.
Additionally, the German IFO survey results are due. The Bank of Canada will announce its decision on monetary policy. Here is what you need to know on Wednesday, October 25: The US Dollar rebounded on Tuesday, supported by positive economic data. The US PMIs exceeded expectations and highlighted the divergence between the US economy and others, indicating that fundamentals still favor the US Dollar. The US Dollar Index rebounded from monthly lows below 105.50 to 106.30.
However, the Services and Manufacturing sectors remained in contraction territory. GBP/USD experienced a 130-pip drop from its peak, reaching the 1.2150 area. The pair is now trading within a familiar congestion zone, with short-term technical indicators showing weakness. USD/JPY rose from 149.30 back toward 150.00, boosted by a stronger US Dollar following positive US data.
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