NZD/USD to extend its downfall amid recession woes – ANZ

EUR/USD extends its gains for the third consecutive session, trading around 1.1730 during the Asian hours on Wednesday. The pair appreciates as the US Dollar continues to lose ground amid rising United States–Greenland concerns.

GBP/USD remains in the positive territory for the third consecutive session, trading around 1.3430 during the Asian hours on Wednesday. The pair rises as the Pound Sterling gains support following Tuesday’s release of UK employment data for the three months to November. Employment increased by 82K after a 17K contraction in the previous period.

Gold prolongs its weekly uptrend for the third straight day and continues scaling new all-time highs through the Asian session on Wednesday. US President Donald Trump’s threat to slap fresh tariffs on eight European countries that opposed his plan to acquire Greenland triggers a sharp uptick in volatility. 

The UK Office for National Statistics will release the December Consumer Price Index figures on Wednesday at 07:00 GMT, a print that will matter for markets. Consensus expectations point to a modest re-acceleration in inflation pressures.

Over the weekend, President Trump threatened a new round of tariffs on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and the UK, with reporting flagging 10% from February 1 and a possible step-up later.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices are extending their losses on Tuesday as risk-on sentiment fades amid rising geopolitical tensions over Greenland.