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EUR/USD stays defensive near 1.0300 ahead of US CPI
EUR/USD remains under pressure near 1.0300 in the European trading hours on Wednesday. The pair is undermined by a broadly steady US Dollar and a tepid risk sentiment ahead of the US CPI inflation data release. Dovish ECB commentary also remain a weight on the pair.
GBP/USD recovers to 1.2200 despite softer UK inflation data
GBP/USD erases losses to retake 1.2200 in the European session on Wednesday. The Pound Srerling shakes off a surprise cooldown in the UK inflation. The December UK CPI inflation fell to 2.5% YoY vs. 2.7% expected. The focus now shifts to US CPI data.
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Editors’ Picks
Gold price turns positive for the second straight day amid softer USD; US CPI in focus
Gold price reverses an intraday dip to the $2,669 area and turns positive for the second straight day on Wednesday, though the upside seems limited ahead of the US CPI report. The US Dollar hangs near the weekly low touched in reaction to the softer US PPI on Tuesday and turns out to be a key factor lending support to the commodity.
US December CPI preview: Concerns about sticky inflation to linger
The December CPI report should indicate that the underlying trend in inflation is not re-accelerating, but it is unlikely to allay the FOMC's increased concerns that inflation has become stuck uncomfortably above its target.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC & ETH rebound, XRP rallies ahead of CPI data
Bitcoin and Ethereum prices continue to recover on Wednesday after finding support around their key levels this week. On the other hand, Ripple remains strong and found support around its upper symmetrical triangle boundary.