Eurozone CFTC EUR NC Net Positions rose from previous €159.9K to €1575K

EUR/USD can’t quite find its footing on Wednesday, hovering below the 1.1700 mark against the backdrop of the equally inconclusive price action in the US Dollar. Softer Eurozone inflation numbers are putting some pressure on the Euro, while the US Dollar is staying fairly subdued following the ADP report in December (+41K).

GBP/USD gives back some ground on Wednesday, drifting to the sub-1.3500 region and adding to Tuesday’s pullback. Cable remains slightly offered, with the Greenback advancing marginally in the wake of the release of the December ADP prints.

Gold remains under pressure on Wednesday, trading around $4,430 per troy ounce and reversing three consecutive daily advances. The yellow metal’s upside seems to have met resistance around the $4,500 zone in a context of small gains in the Greenback following the ADP numbers, while declining US Treasuty yields should cap the downside for now.

Bitcoin extends correction below the $93,000 mark at the time of writing on Wednesday, signaling a cooldown from the early-year rally that touched $94,789 on Monday. Altcoins, including Ethereum and Ripple, are also facing headwinds amid uncertainty in market sentiment.

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Aave (AAVE) price hovers around $172 on Wednesday, nearing the upper trendline of the falling parallel channel pattern. A break above this technical pattern favors the bulls.