Analyzes

GBP/USD hovered near 1.3150 on Wednesday, with upcoming UK inflation data and Fed minutes likely to drive a bearish move toward key support at 1.3000.

EUR/USD remained flat near 1.1580 on Wednesday, with upcoming CPI data and Fed minutes likely to trigger a move toward key support at 1.1470.

The GBP/USD pair trades with a negative bias for the fourth straight day and touches a fresh weekly low following the release of the UK consumer inflation figures this Wednesday.

EUR/USD edges higher toward 1.1600 in the European morning on Wednesday but doesn’t yet point to an increasing buyer interest.

Gold is consolidating below $4,100 in early Wednesday’s trades, as buyers take a breather after the previous solid rebound and ahead of the Minutes of the US Federal Reserve (Fed) October monetary policy meeting due later in the day.  

Spot Gold hovers around $4,060 in the American session on Tuesday, easing from an intraday peak of $4,082. The XAU/USD pair is little changed for a second consecutive day, reflecting investors’ wait-and-see stance ahead of United States (US) data releases scheduled for later this week.