Author
Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
GBP/USD adds to the weekly move higher and keeps the trade above the 1.3500 threshold on Wednesday. Cable’s extra recovery follows the modest selling pressure on the Greenback after US CPI readings matched consensus in July.
EUR/USD picks up some traction and flirts with the 1.1550 region on Wednesday. The pair’s modest advance comes as the US Dollar gathers some steam after US CPI data matched estimates last month.
Gold reverses the recent weakness and reclaims the area past the $4,400 mark per troy ounce on Wednesday. The precious metal’s recovery picks up pace and exceedes the $4,400 level in the wake of the release of in-line US inflation figures in July and the marginal gains in the US Dollar.
Zcash price trades below $500 at press time on Wednesday, holding steady after two consecutive days of losses. Retail demand for the privacy coin is mixed as the broader market awaits the release of US Consumer Price Index data for July later in the day.
The US Bureau of Labor Statistics will publish the July Consumer Price Index data on Wednesday. The report is expected to show a small decline in consumer inflation and core inflation. The monthly CPI is forecast to rise by 0.1%, following the 0.4% decrease recorded in June, while the annual reading is seen retreating to 3.4% from 3.5% reported in the previous month.
![US and EU Indices corrections? – JPY pairs stalling, metals stretched, Oil reject [Video]](https://editorial.fxsstatic.com/images/i/Computer-with-Chart_1.png)
