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GBP/USD holds recovery near 1.3550 in European trading hours on Wednesday. The UK annual Consumer Price Index (CPI) inflation picked up to 2.9% in July, meeting estimates, while core CPI rose by 2.6% YoY in July versus 2.5% expected. Mixed UK inflation data failed to provide any impetus to the British Pound.
EUR/USD stretches higher toward 1.1600 in Wednesday's European session. The US Dollar resumes its downside as weak US economic data weigh on expectations of tighter Federal Reserve policy. Traders will take further cues from ECB President Christine Lagarde’s speech and the FOMC Minutes later in the day.
Gold struggles to capitalize on its modest intraday bounce from the weekly low, touched during the Asian session, and currently trades just below $4,350. The US Dollar attracts some sellers, stalling this week's goodish recovery from a two-month low and helping the commodity reverse a part of the previous day's heavy losses.
Shiba Inu recovers slightly, trading at $0.0000044, after finding support around the critical level earlier this week. The dog-themed meme coin shows improving sentiment as social dominance rises, funding rates turn positive, and bullish traders increase their long positions. On the technical side, SHIB suggests a potential recovery if it holds above the key $0.0000043 level.
