India WPI Inflation came in at 0.83%, above expectations (0.3%) in December

EUR/USD keeps its bearish sentiment well in place following Tuesday’s deep decline, retesting the 1.1640 region on the back of humble losses in the US Dollar. In the meantime, investors should shift their attention to Thursday’s Initial Jobless Claims and comments from Fed officials.

Following its risk-linked peers, GBP/USD now faces some selling pressure and retreats toward the 1.3420 zone as US markets draw to a close on Wednesday. Moving forward, the British Pound is expected to closely follow Thursday’s data releases in the UK, including GDP figures.

Gold extended its recovery on Wednesday, quickly shrugging off Tuesday’s setback and pushing to fresh all-time highs near $4,650 per troy ounce. The rally in the yellow metal was underpinned by a softer US Dollar, falling US Treasury yields, and growing expectations that the Federal Reserve could deliver additional rate cuts.

US-listed spot Ethereum (ETH) exchange-traded funds (ETFs) recorded about $130 million in net inflows on Tuesday, their largest in nearly a week, per SoSoValue data. BlackRock's ETHA recorded the largest inflow, attracting $53.3 million after four consecutive days of outflows.

Jerome Powell's eight-year tenure as Chair of the Federal Reserve is coming to a close during a period of intense pressure on the US central bank and divided views among policymakers about the appropriate stance of monetary policy. 

Hyperliquid is showing renewed strength, trading above $26.00 at the time of writing on Wednesday, as bulls regain control following a period of consolidation. The rebound is largely supported by improving on-chain metrics and growing derivatives market activity.