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AUD/USD reverses a quick downtick to near the 0.6720 region to test 15-month highs at around 0.6750 in Wednesday's Asian session. The pair experiences light volatile trading following the release of softer Australian consumer inflation figures, which tempered bets that the RBA could opt for a rate hike next month. 

USD/JPY has stalled its renewed upside near 156.80 in the Asian session on Wednesday, consolidating above 156.50. The renewed US Dollar selling remains a drag on the pair even as a cautious market mood keeps the haven demand for the Japanese Yen somewhat underpinned. All eyes are on the key US data releases. 

Gold price sees a decline on profit-taking after facing rejection at $4,500 in the Asian trading hours on Wednesday. Despite the pullback, the traditional safe haven remains underpinned by geopolitical tensions and expectations of Fed rate cuts. The US ADP Jobs data, JOLTS Job Openings Survey and ISM Services Purchasing Managers Index report will be published on Wednesday. 

Pump.fun (PUMP) is rising alongside crypto majors such as Bitcoin (BTC) and is trading above $0.002400 at the time of writing on Tuesday. The Decentralized Exchange (DEX) native token outlook builds on a bullish tone developed since December 30.

Events in Venezuela are top of mind for market participants, and while developments are associated with an elevated degree of uncertainty, we are not making any changes to our markets or economic forecasts as a result of the deposition of Nicolás Maduro. 

What you need to know on Wednesday, January 7: