EURUSD
- EUR/USD Price: EUR/USD trades with a slight upward tone near 1.1590 in early European hours. Momentum is modest, with the pair staying within recent ranges.
- ECB Monitoring: Joachim Nagel noted the ECB is closely watching surging service-sector prices. December projections will help assess whether the current policy stance remains suitable.
- Retail Sales: US Retail Sales rose 0.2% MoM, slowing notably from August’s 0.6% increase. The data suggests consumers are becoming more cautious amid persistent economic uncertainty.
- Consumer Confidence: US Consumer Confidence fell sharply to 88.7, down from 95.5, signaling weakening household sentiment. This deterioration could weigh further on USD demand if it continues.
- ECB Speeches: Traders await remarks from Philip Lane and Christine Lagarde for direction. Fresh guidance could influence EUR trajectory ahead of key December policy expectations.
| SMA (20) | Slightly Falling |  |
| RSI (14) | Slightly Falling | |
| MACD (12, 26, 9) | Slightly Falling | |
Closing statement: EUR/USD retains a mild bullish tone, supported by softer US data and anticipation of ECB communication. The pair may remain range-bound until policymakers provide clearer forward guidance.
GBPUSD
- GBP/USD Price: GBP/USD trades firmly near 1.3170 during Wednesday’s European session, extending its positive momentum from earlier in the week.
- Tax Hikes: Finance Minister Rachel Reeves is set to announce substantial tax increases worth tens of billions of pounds. The budget will challenge her credibility with both investors and lawmakers seeking higher welfare spending.
- UK inflation: UK inflation eased to 3.6% in October, reinforcing expectations of a December 25 bps BoE rate cut. Markets now price an 80% probability, pushing gilt yields lower ahead of the budget release.
- Fed's Williams: NY Fed President John Williams said rates could be lowered soon without endangering the Fed’s inflation target. His comments added mild pressure on the USD.
- Fed's Miran: Fed Governor Stephen Miran emphasized that weakening labor conditions and a slowing economy justify larger rate cuts to return policy to neutral. His stance adds to broader dovish expectations.
| SMA (20) | Slightly Falling | |
| RSI (14) | Slightly Falling | |
| MACD (12, 26, 9) | Slightly Falling | |
Closing statement: GBP/USD maintains upward momentum supported by dovish central-bank rhetoric and firm expectations of a BoE cut. The pair could remain bid as markets digest UK budget details and shifting global rate expectations.
XAUUSD
- XAU/USD Price: Gold holds its intraday advance near a 1.5-week high reached in Asian trading on Wednesday, supported by growing expectations of a dovish Federal Reserve.
- Fed Shift: President Trump is reportedly set to appoint Kevin Hassett as the next Fed Chair, reinforcing market calls for a December rate cut.
- US PPI: US PPI held steady at 2.7% YoY in September, matching expectations, while core PPI eased to 2.6%, undershooting forecasts and signaling softening underlying inflation.
- Rate Cut: Recent US data amplified concerns about economic momentum, with markets now pricing an 80% probability of a December FOMC rate cut.
- Peace Talks: Moscow signaled it may reject the revised 19-point Ukraine-US peace plan, arguing that recent changes diverge too far from the original Alaska framework.
| SMA (20) | Rising |  | |
| RSI (14) | Rising | | |
| MACD (12, 26, 9) | Slightly Rising | |
Closing statement: Gold remains supported by rising Fed cut expectations and geopolitical uncertainty, keeping XAU/USD biased upward in the near term.
CRUDE OIL
- Crude Oil Price: WTI edges higher early Wednesday in Europe, trading near $57.70, though still slightly below Tuesday’s close at $57.88.
- Stockpile Data: API data showed a 1.9M-barrel decline in US crude inventories last week, reversing the prior week’s 4.4M-barrel build and offering mild support to prices.
- Peace Framework: Ukraine’s President Zelenskiy said the country is prepared to move forward with a US-backed peace plan aimed at ending the war with Russia.
- Deadline: President Trump reiterated that there is no set timeline for a final agreement and said he will meet other leaders only when the deal is near completion; US envoy Steve Witkoff is scheduled to meet Putin next week.
- Data Ahead: Market attention now shifts to Wednesday’s US economic releases, including Durable Goods Orders, Weekly Jobless Claims, and Chicago PMI.
| SMA (20) | Falling | | |
| RSI (14) | Slightly Falling | |
|
| MACD (12, 26, 9) | Slightly Falling | |
Closing statement: Crude oil trades slightly firmer, supported by falling US inventories and geopolitical progress, though broader sentiment remains sensitive to incoming US data.
DAX
- DAX Price: The German DAX trades weaker on Wednesday, hovering around 23,580 points as pressure on the index persists.
- GDP Data: Germany’s Q3 GDP matched expectations and prior readings, confirming that the economy stagnated during the quarter.
- Consumer Sentiment: The Ifo Business Climate Index slipped to 88.1 in November, below forecasts, signaling fading confidence in the government’s economic revival plans.
- Fiscal Optimism: Despite the downturn, investors expect that Germany’s expanded 2026 budget, projecting €525 billion in spending, will help improve conditions next year.
- US Jobs: ADP data revealed that US private firms cut an average of 13,500 jobs over the past four weeks, adding to signs of labor-market cooling.
| SMA (20) | Slightly Falling | |
| RSI (14) | Slightly Rising | |
| MACD (12, 26, 9) | Slightly Falling | |
Closing statement: The DAX remains under pressure as stagnating growth and weaker business sentiment weigh on the outlook, though expectations of strong 2026 fiscal spending offer a degree of forward support.