Chicago Federal Reserve President Austan Goolsbee said on Tuesday said he sees interest rates needing to come down a "fair amount" over the next year as rates remain in restrictive policy, per Reuters.

Australia Treasurer Jim Chalmers said on Wednesday that the national accounts show positive but weak Gross Domestic Product (GDP) growth.

China's Services Purchasing Managers' Index (PMI) declined to 51.5 in November from 52.0 in October, according to the latest data published by Caixin on Wednesday.

The Australian Dollar (AUD) moves lower in reaction to weaker domestic Gross Domestic Product (GDP) growth figures.

The USD/CAD pair struggles to capitalize on its gains registered over the past two days and oscillates in a range, around the 1.4070 area during the Asian session on Wednesday.

Gold price (XAU/USD) extends its consolidative price move on Wednesday and oscillates in a narrow range below the $2,650 level during the Asian session.

The NZD/USD pair attracts fresh sellers following the previous day's good two-way price move and drops to a one-week low during the Asian session on Wednesday.

The AUD/JPY cross dropped to its lowest level since September 18 during the Asian session on Wednesday as softer Australian GDP print lifted bets for an early interest rate cut by the Reserve Bank of Australia (RBA).

Here is what you need to know on Wednesday, December 4: The action in foreign exchange markets remain choppy early Wednesday as investors refrain from taking large positions ahead of key events.

EUR/USD falls below the key support of 1.0500 in North American trading hours on Wednesday.

The ADP Employment Change report is seen showing a deceleration of job creation in the US private sector in November.

The USD/JPY pair builds on the overnight bounce from the 148.65 area, or its lowest level since October 11 and gains strong follow-through traction on Wednesday.

The Pound Sterling (GBP) surrenders some of its gains against its peers on Wednesday after Bank of England (BoE) Governor Andrew Bailey forecasted four interest-rate cuts in 2025 in an interview with Financial Times (FT).

The USD/CAD pair extends its winning streak for the third trading day on Wednesday.

The AUD/USD pair dives more than 1% to near the round-level support of 0.6400 in Wednesday’s European session.

The US Dollar (USD) is turning red after numbers on the US Services sector from S&P global and the Institute for Supply Management fell short of expectations, while a no-confidence vote in France is taking place. Chances that Prime Minister Michel

Silver price (XAG/USD) recovers in a V-shape manner from the key support of $30.50 in Wednesday’s North American session and refreshes an intraday high near $31.20 after the release of the United States (US) ADP Employment Change data for November.

Federal Reserve Chair Jerome Powell is set to participate in a moderated discussion on the economic outlook on Wednesday at the New York Times DealBook Summit in New York.

The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, declined toward 106.10 on Wednesday amidst slight profit-taking after steep rallies against many major G20 currencies this week.

Gold price advances during Wednesday’s North American session, sponsored by mixed US economic data.

The AUD/USD declined by 0.76% to 0.6435 in Wednesday's session, driven by disappointing data results from key fundamentals in Australia.

The Federal Reserve (Fed) commented in its latest Beige Book survey released on Wednesday that US economic activity increased slightly in November after little change in preceding months, and US businesses grew more upbeat about demand prospects.

Australia’s trade surplus increased to 5,953M MoM in October versus 4,500M expected and 4,609M in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday.

The Australian Dollar (AUD) remains under selling pressure on Thursday.