The US dollar bulls took a breather in Wednesday’s Asian trades that allowed most majors to attempt a tepid bounce. However, the price-action across the fx board remained confined within tight trading ranges amid escalating US-China trade tensions, Brexit uncertainty and global growth risks. The Aussie was the top gainer in Asia while the USD/JPY pair remained trapped below the 114 handle. The Kiwi tested the 0.6800 level after the RBNZ Financial Stability Report (FSR) showed that the easing is cautious off the brake. On the commodities front, the oil-price bounced over 1% amid month-end repositioning while Gold prices on Comex traded flat around 1220, awaiting fresh trading impetus from the US growth numbers and Powell’s speech. Main Topics in Asia China: Not actively considering using US Treasuries as a trade-war tool – Reuters US and North Korean envoys fail to hold scheduled talks US President Trump reiterates he is not happy with Fed Chair Powell – WaPo US inflation expectations drop below 2 percent for the first time since Dec. 29, 2017 China’s Vice Premier Liu: No country can win a trade war Crude setting up for a steady bullish recovery, WTI clawing back to $52.00 Dollar Index hits two-week high on Fed speak, trade war tensions Gold hits 12-day low, revives interest in put options (bearish bets) Three quarters of UK carmakers fear no-deal Brexit – UK SMMT survey Key Focus Ahead The EUR macro calendar remains data-quiet for the third straight session, as traders await the German Gfk consumer climate at 0700 GMT and Eurozone credit growth data due at 0900 GMT for some trading incentives. The EUR, GBP traders will remain focused on both the UK Treasury’s and BOE’s assessments (due at 1630 GMT) of various Brexit scenarios and their implications on the UK growth outlook and BOE rate hike plans. At the same, the BOE will also release its Financial Stability Report (FSR) and banks stress tests results while the Financial Conduct Authority (FCA), a financial markets regulator, publishes its Brexit impact report alongside. The US docket is also expected to be quite eventful, with a fresh batch of US economic releases due on the cards at 1330 GMT that includes the prelim Q3 GDP, good trade balacne and personal consumption expenditure prices. At 1500 GMT, the US new homes sales report will be published, followed by the EIA crude stockpiles data at 1530 GMT. Apart from the data and Brexit forecasts, we have a string of Central bankers’ speeches that are listed below. 0630 GMT: ECB Governing Council member and head of the Bank of Finland, Olli Rehn 1205 GMT: ECB Governing Council member BenoÃ®t CÅ“urÃ© 1300 GMT: ECB Vice-President Guindo 1520 GMT: ECB Chief Economist Peter Praet 1645 GMT: BOE Governor Mark Carney 1700 GMT: Fed Chair Jerome Powell EUR/USD: Focus on USD/CNH and Fed’s Powell The EUR/USD pair may draw bids if Powell puts more emphasis on the rising risks to the US economy. The preliminary estimate of the US third-quarter GDP, scheduled for release at 13:30 GMT, and the ECB speak also influence the pair. GBP/USD hoping to stop the slide into 1.2700 as UK braces for banks stress tests, FSR On the UK’s economic docket for Wednesday is the results of the Bank of England’s (BoE) Bank Stress Tests, a key test of the UK’s ability to survive a messy Brexit scenario, while the BoE will also be dropping their Financial Stability Report. UK Treasury analysis finds UK will be £150bn worse off under no-deal Brexit – The Telegraph The Telegraph is out with some leaks on what to expect from the UK Treasury’s Brexit forecasts that will be released on Wednesday morning (UK Time). US GDP Preview: No revision to third quarter pace The first revision to the third quarter annualized gross domestic product figure will be released by the Bureau of Economic Analysis, a division of the Commerce Department on Wednesday November 28th at 8:30 am EST, 13:30 GMT. Trump-Xi Summit Preview: 3 scenarios for trade talks and currency reactions US President Donald Trump meets his Chinese counterpart Xi Jinping on the sidelines of the G-20 Summit on November 30th. Trade tops the agenda. Here are the latest developments of the trade war in brief. Iron-ore seen between $ 60-70/ t range – Goldman Sachs Analysts at the US investment banking giant, Goldman Sachs, offer their view on iron-ore prices, given the recent slump. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Italy debt target must be closer to 2% for EU: Repubblica FX Street 4 years The US dollar bulls took a breather in Wednesday's Asian trades that allowed most majors to attempt a tepid bounce. However, the price-action across the fx board remained confined within tight trading ranges amid escalating US-China trade tensions, Brexit uncertainty and global growth risks. The Aussie was the top gainer in Asia while the USD/JPY pair remained trapped below the 114 handle. The Kiwi tested the 0.6800 level after the RBNZ Financial Stability Report (FSR) showed that the easing is cautious off the brake. 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