This article has been translated from English to Gen Z Slang.
Yo, markets were like totally vibing on Wednesday. 😎 The Federal Reserve was all chill with keeping interest rates as-is with a 10-2 vote. Jerome Powell was like, "No new vibes, we're keeping our independence, fam." Meanwhile, gold shot up past $5,300 per ounce for the first time ever 'cause the dollar was feeling weak AF. 💸
Peep the latest forex news and updates you might've missed in this wild session! 💥
Forex News Headlines & Data:
- API Crude Oil Stock Change for January 23, 2026: -0.25M (Used to be 3.04M, oof!)
- Bank of Japan Monetary Policy Meeting Minutes: The BOJ squad agreed to keep it low-key with policy staying chill. They were like, "Let's keep watching if wages ‘n’ inflation hit that 2% goal." Some members were like, "Yo, flexibility is key if things change." 🧐
- Australia CPI Growth Rate for December 2025 hit 1.0% m/m, hotter than expected (forecast was 0.9%, previous was zero, ouch!) and up 3.8% y/y. 📈
- Germany’s GfK Consumer Confidence for Feb 2026: -24.1, not as bad as expected (-26.0 forecast; -26.9 previous), so that's something. 🤔
- Swiss Econ Sentiment Index for Jan 2026: Woof, hit -4.7 (5.5 forecast; 6.2 previous), rough ride for Switzerland. 🇨🇭
- U.S. MBA Mortgage Apps for Jan 23, 2026: Down 8.5% (Used to be 14.1%, yikes).
- U.S. MBA 30-Year Mortgage Rate for Jan 23, 2026: Upped to 6.24% (6.16% before).
- The Bank of Canada kept the rate at 2.25%, keeping it cool as their growth and inflation outlook didn't change much since October. Governor Macklem was like, "With U.S. trade policy kinda sus and our growth being meh, we're staying on guard if things flip." 🔍
- U.S. EIA Crude Oil Stocks Change for Jan 23, 2026: Down 2.3M (Went up by 3.6M before).
- The Federal Reserve kept the federal funds rate at 3.50%–3.75%, saying inflation is still lit, growth is solid, and jobs are steady. Powell hinted that any future changes are all about the data, with no promises on rate cuts. 📊
Broad Market Price Action:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay – Chart Faster With TradingView
Wednesday was a whole vibe, with markets juggling monetary policies, geopolitical drama, and currency chaos. 💥
Gold stole the spotlight, popping 4.37% to chill at $5,400 per ounce after hitting a high of $5,311. Dollar weakness had everyone rushing to gold as their safety net. This rally got extra oomph during the Asian and London sessions and then yeeted again after the FOMC tea was spilled. 💰
WTI crude oil went up 1.59%, chilling near $63.30 per barrel. This higher mood seemed to vibe with tight supplies 'cause the API and EIA inventories showed a serious dip for the week. 📉
The S&P 500 closed slightly up 0.12%, hanging around 6,988, holding some of Tuesday’s gainz but couldn’t maintain that 7,000 energy. The indecisive energy session showed folks were kinda cautious, especially with mega cap tech earnings in the spotlight. 📈
Bitcoin was riding the wave too, up 0.40% to trade around $89,183. 🚀 It was a bumpy ride, tho. Bitcoin experienced a rollercoaster throughout the day before finding its chill. Still, it kept its zen in the range it's been holding lately.
U.S. Treasury yields weren’t bothered, staying around 4.20% on the 10-year note. The bond market was yawning, seemingly comfy with the Fed's "we got this" vibe. 🤷♂️
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FX Market Behavior: U.S. Dollar vs. Majors
Overlay of USD vs. Majors – Chart Faster with TradingView
The dollar was on a rollercoaster but ended up with gains thanks to a comeback story in the late session.
In the Asian session, the dollar flexed against big currencies but then cooled off going into London. Aussie inflation data came thru real hot at 3.8% y/y, juiced by a 21.5% jump in electricity prices. 🔥 Even with hype Australian numbers, traders played it safe looking ahead to the day's big moves.
During the London session, the dollar was still net positive but shook it out across pairs. European data was chill; Germany was a bit better, while Swiss sentiment took a dive. The euro stayed in its lane despite the mix tape of data, while sterling had good vibes from wage growth. 💷
Into the U.S. session, the dollar was mostly coasting sideways, keeping eyes on the FOMC drop at 2 PM ET. The Bank of Canada was on, leaving rates steady at 2.25% like everyone foresaw. These news bits didn’t move much market energy or the Canadian dollar needle. Plus, deets from Treasury Secretary Bessent, sticking to a strong dollar vibe, sent the dollar into orbit before the FOMC session. 🌌
The Fed’s call to freeze rates at 3.5%-3.75% in a 10-2 decision was modest news, spite two side-eye votes wanting a slice of rate crime. Powell pulled the session's energy to the economy's "firm footing" and low job gains that leveled unemployment. His defense of Fed independence added pressure on the dollar too. 🇺🇸
At Wednesday’s end, the dollar flexed its gains against big countries with the best vibe check coming against the Swissie and the yen. The greenback's endurance, even with dovish moves at the Fed, pointed that Bessent's strong dollar commitment helped set the dollar-thumb-on-scale mood heading to close.
Upcoming Potential Catalysts on the Economic Calendar
- New Zealand Balance of Trade for December 2025 at 9:45 pm GMT
- New Zealand ANZ Business Confidence for January 2026 at 12:00 am GMT
- U.K. Car Production YoY for December 2025 at 12:01 am GMT 🚗
- Australia Import & Export Prices for December 31, 2025 at 12:30 am GMT 🇦🇺
- Japan Consumer Confidence for January 2026 at 5:00 am GMT 🇯🇵
- Swiss Balance of Trade for December 2025 at 7:00 am GMT 📉
- Euro area Monetary Developments for December 2025 at 9:00 am GMT 💶
- Euro area Economic Sentiment for January 2026 at 10:00 am GMT 🧠
- Euro area Consumer Confidence & Inflation Expectations for January 2026 at 10:00 am GMT 🔮
- Canada Balance of Trade for November 2025 at 1:30 pm GMT 💼
- Canada Average Weekly Earnings for November 2025 at 1:30 pm GMT 💵
- U.S. Initial Jobless Claims for January 24, 2026 at 1:30 pm GMT 🏢
- U.S. Balance of Trade for November 2025 at 1:30 pm GMT 📊
- U.S. Factory Orders for November 2025 at 3:00 pm GMT 🏭
Thursday isn't bringing the heat compared to Wednesday's central bank action, so the scene stealers will probably be U.S. initial jobless claims and trade balance data in North America. Jobless claims will unlock more insights into job vibes after the Fed's remark on "some signs of stabilization." 😬
Canadian trade and earnings data might shake up the loonie following Macklem’s spotlight on trade policy what's-what. Euro area sentiment will spill the tea about European vibes after some recent snooze fest in manufacturing. Everyone's keeping the feelers up for any extra adds from the Fed or Trump squad on monetary independence, Fed chair succession, or strong dollar agenda after a press day like Wednesday.
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