Analyzes

GBP/USD gained traction and rose about 0.5% on Tuesday. The pair preserves its bullish momentum on Wednesday and trades at its highest level in three weeks above 1.3550.

The USD/CAD pair extends the previous day’s rejection slide from the 1.3800 mark and attracts some follow-through selling for the second straight day amid a bearish sentiment surrounding the US Dollar (USD).

Gold is finding it difficult to build on the previous rebound from weekly lows of $3,331 early Wednesday, as $3,350 appears to be a tough nut to crack for buyers.

The Euro (EUR) shook off its sluggish start to the week on Tuesday, with EUR/USD powering higher to multi-day peaks, coming within touching distance of the key 1.1700 mark.

Gold trades with a softer tone on Tuesday, falling to a fresh one-week low of $3,331.12 in the American session. The US Dollar (USD) gathered momentum following the release of United States (US) data, finding additional legs in political headlines.

The USD/BRL hovers near 5.4000, aligning with broader USD weakness after soft U.S. inflation data, as traders eye potential dips toward 5.3760 while maintaining cautious risk management.