TRENDING:

UK visible trade deficit widens in Jan, misses estimates

Separately, the UK goods trade balance report was released, which arrived at GBP -12.32 billion in Jan, versus GBP -12.00 billion expectations and GBP -11.77 billion last. Total trade balance came in at GBP -3.07 billion in Jan versus GBP -2.49 billion previous.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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EUR/USD stays defensive below 1.1600, awaits Fed commentary, US House vote

EUR/USD stays defensive below 1.1600 in European trading on Wednesday. The pair trades listlessly amid subdued action in the FX space as markets await the US House vote on the stopgap funding bill to end the record government shutdown. Meanwhile, central bank talks will be eyed.

GBP/USD turns south toward 1.3100 as US Dollar recovers ahead of House vote

GBP/USD is turning south toward 1.3100 in the European session on Wednesday, snapping its recovery. The US Dollar rebounds, shrugging off risk appetite, in anticipation of the US government reopening. Fedspeak and the US House vote on the funding bill are awaited.

Gold rebounds from sub-$4,100 levels, down a little below three-week high amid firmer USD

Gold reverses an intraday dip to sub-$4,100 levels and trades with a mild negative bias just below a three-week top during the early part of the European session on Wednesday. A positive development towards reopening the US government remains supportive of the risk-on mood and acts as a headwind for the safe-haven precious metal.

Chainlink outlook improves as staking rewards and whale activity strengthen network demand

Chainlink price steadies around $15.35 on Wednesday after finding strong support near the lower trendline last week, signaling renewed buying interest. The launch of Chainlink Rewards Season 1 could boost network engagement and token participation, potentially driving higher demand.

Is the UK an economic outlier?

UK labour market data for the three months to September was weak, and the signs also point to weakness for October. The number of people on the payroll is falling, and the unemployment rate rose in Q3 to a pandemic high.

Chainlink Price Forecast: LINK outlook improves as staking rewards and whale activity strengthen network demand

Chainlink (LINK) price steadies around $15.35 on Wednesday after finding strong support near the lower trendline last week, signaling renewed buying interest. The launch of Chainlink Rewards Season 1 could boost network engagement and token participation.