EUR/USD is retreating from 1.1300, snapping a two-day uptrend. Cautious mood revives the US dollar’s safe-haven demand, despite weaker yields. US inflation expectations recover ahead of GDP and Consumer Confidence data. Omicron news and Biden’s speech eyed as well.
GBP/USD is back in the red on Wednesday, reversing a part of the previous day’s rebound amid a worsening market mood.
USD/JPY pares intraday losses while bouncing off the daily low to keep the 114.00 threshold on the chart during early Wednesday. In doing so, the yen pair portrays the buyer’s indecision following the heaviest daily gains in over two weeks.
AUD/USD down 0.45% intraday, while flashing 0.7125 as a quote heading into Wednesday’s European session. The Aussie pair’s losses are the heaviest among the Group of Ten (G10) currency pairs.
NZD/USD drops 0.17% intraday, matching its Aussie counterpart, as sellers attack 0.6750 level during early Wednesday. The kiwi pair jumped the most among the G10 pairs, not to forget posted the biggest daily gains since late October.
USD/CAD extends pullback towards 1.2900 inside rising wedge.
USD/CHF remains firmer around 0.9245, 0.08% intraday ahead of Wednesday’s European session. The Swiss currency (CHF) pair rises for the second consecutive day while staying inside a short-term ascending triangle bearish chart pattern.
WTI bulls take a breather above $71.00 despite upbeat API oil inventories, EIA data eyed.
Gold just below the $1,790 level on Wednesday. Market participants now look forward to the US final Q3 GDP print and the Conference Board’s Consumer Confidence Index.
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