Trading news

United Kingdom Producer Price Index - Input (YoY) n.s.a came in at 0.5% below forecasts (0.7%) in October

United Kingdom Producer Price Index - Output (YoY) n.s.a: 3.6% (October) vs 3.4%

United Kingdom Producer Price Index - Output (MoM) n.s.a meets forecasts (0%) in October

United Kingdom Retail Price Index (MoM) in line with forecasts (0.3%) in October

United Kingdom Consumer Price Index (YoY) meets forecasts (3.6%) in October

United Kingdom Producer Price Index - Input (MoM) n.s.a came in at -0.3%, below expectations (0%) in October

United Kingdom Consumer Price Index (MoM) meets expectations (0.4%) in October

United Kingdom Retail Price Index (YoY) meets forecasts (4.3%) in October

United Kingdom Core Consumer Price Index (YoY) meets forecasts (3.4%) in October

The USD/CAD pair trades in a tight range near its almost three-week low, slightly below 1.4000, during the early European trading session on Wednesday.

The NZD/USD pair remains on the defensive near 0.5630 during the early European session on Wednesday. Expectations of an imminent interest rate cut from the Reserve Bank of New Zealand (RBNZ) exert some selling pressure on the New Zealand Dollar (NZD) against the Greenback.

The GBP/JPY pair retraces to near 204.00 in the Asian trading session on Wednesday after revisiting an almost six-week high around 204.80 the previous day. The pair faces selling pressure as the Japanese Yen (JPY) attracts bids after underperforming its peers in the past few weeks.

The Indian Rupee (INR) extends its winning streak against the US Dollar (USD) for the fourth trading day on Wednesday. The USD/INR falls to near 88.60 as the Indian currency remains broadly firm amid growing expectations that the United States (US) and India could announce a trade deal soon.

EUR/CAD rebounds after three days of losses, trading around 1.6210 during the Asian hours on Tuesday. The currency cross gains ground as the commodity-linked Canadian Dollar (CAD) comes under downward pressure amid lower crude Oil prices.

The USD/CHF pair prolongs its recent recovery from the 0.7880-0.7875 region, or a nearly one-month low touched last week, for the fourth straight day and climbs to an over one-week high during the Asian session on Wednesday.

The EUR/JPY cross loses ground to near 180.00 during the early European session on Wednesday. The Japanese Yen (JPY) strengthens against the Euro (EUR) amid speculations that Japanese authorities would step into the market to stem further weakness in the domestic currency. 

Gold (XAU/USD) trades with a mild positive bias for the second straight day on Wednesday and looks to build on the previous day's bounce from levels just below the $4,000 psychological mark, or a one-and-a-half-week low.

GBP/USD remains subdued for the fourth consecutive session, trading around 1.3130 during the Asian hours on Wednesday. Traders await the United Kingdom (UK) Consumer Price Index (CPI), PPI Core Output, and Retail Price Index data for October due later in the day.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.50 during the Asian trading hours on Tuesday. The WTI edges lower amid a rise in US crude inventories.

EUR/USD moves little after three days of losses, trading around 1.1580 during the Asian hours on Wednesday. The pair may further lose ground as the US Dollar (USD) gains amid declining US Federal Reserve (Fed) rate cut bets for December.