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Eurozone Harmonized Index of Consumer Prices (YoY) meets expectations (1.7%) in January
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FXStreet Team
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EUR/USD alternates gains with losses in the low-1.1800s on Wednesday in a context of modest gains in the Greenback. Meanwhile investors continue to assess the latest advanced inflation data in the euro area and the lower-than-expected weekly ADP figures on the US calendar. Later in the day, all the attention should be on the release of the US ISM Services.
GBP/USD builds on Tuesday’s gains, advancing for the second day in a row and reclaiming the 1.3700 barrier and above on Wednesday. Furthermore, Cable’s uptick comes despite decent gains in the Greenback ahead of the BoE’s Super Thursday.
Gold picks up further pace and retests the area above the key $5,000 mark per troy ounce on Wednesday. The precious metal’s extra advance comes despite the firmer US Dollar and rising US Treasury yields across the curve, while fresh geopolitical effervescence appears to support the metal’s improvement.
Bitcoin rises above $76,000 following an extended decline to $72,946 the previous day as Fed-related headlines keep investors on edge. Ethereum advances toward the $2,300 hurdle amid low retail interest, with futures Open Interest falling to $26.3 billion.
AI is not being abandoned by markets. It is being priced more carefully. Over the past few weeks, the underperformance of software and SaaS stocks has sparked a familiar question: is the AI trade breaking down? The answer is no.
Ripple hovers around the $1.60 pivotal level at the time of writing on Wednesday, reflecting stable but weak sentiment across the crypto market. Intense volatility triggered a brief sell-off on Tuesday, driving the remittance token to pick up liquidity at $1.53 before recovering to the current level.
