GBP/USD trades in positive territory above 1.2100 in the early European session on Wednesday as investors assess the latest inflation data from the UK. On a yearly basis, the CPI climbed to 10.1% in July from 9.4% in June, surpassing the market expectation of 9.8%.
EUR/USD consolidates the rebound below 1.0200 amid a cautiously optimistic mood. US dollar extends the pullback ahead of Fed minutes while the euro awaits Eurozone GDP. The shared currency remains weighed down by recession fears and gas crises.
Gold price rebounds from weekly lows as the USD resumes correction. US Treasury yields are struggling to find demand ahead of the Fed minutes. XAU/USD needs acceptance above 50 DMA to sustain the recovery.
Solana price shows an interesting setup as it tries to overcome a stiff resistance level. The fifth attempt to overcome hurdles will likely be successful due to multiple bullish confluences. Solana price has been on a clear uptrend since producing the June 14 swing low at $25.76.