United Kingdom CFTC GBP NC Net Positions: £-54.8K vs £-68.1K

EUR/USD is extending its weekly recovery for yet another day, trading beyond 1.1700 the figure on Wednesday, always on the back of the continuation of the renewed selling pressure on the US Dollar. Attention now turns to President Trump, who is due to speak at the WEF, an event that could offer some fresh clues on how EU-US relations might evolve from here.

GBP/USD is finding it hard to extend its weekly advance, slipping back towards the 1.3400 area on Wednesday despite the slight decline in the Greenback. Earlier in the session, UK data showed annual headline CPI inflation ticking higher in the last month of 2025.

Gold pushed its remarkable rally to a fresh all-time high near the $4,900 mark per troy ounce earlier on Wednesday. Risk appetite remains fragile as investors stay on edge ahead of President Trump’s speech at Davos, with EU–US tensions still simmering over the Greenland issue.

Bitcoin holds below $90,000 on Wednesday, weighed down by weakening institutional and retail demand. Ethereum defends $2,900 support amid resumption of spot ETF withdrawals. XRP holds above $1.90 as US-listed spot ETFs record the second outflow since launch.

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.

BNB (formerly Binance Coin) loses ground as the broader cryptocurrency market falls, recording a 1% drop at the time of writing on Wednesday. Retail interest in the exchange token is declining, as evidenced by the massive wipeout of long positions and a decline in futures Open Interest.