Fundamental

Broad US Dollar (USD) weakness helped Gold price advance on Wednesday, with the XAU/USD pair peaking at $3,370.80 early in the American session.

The Australian Dollar (AUD) extended its rebound on Wednesday, with AUD/USD retesting the 0.6560 region, or two-week highs, as renewed selling in the US Dollar (USD) provided a tailwind.

The EUR/USD pair extends its positive momentum on Wednesday and hit a fresh two-week high of 1.1719 during European trading hours. Market players keep selling the US Dollar (USD) amid a better mood triggered by the release of the United States (US) Consumer Price Index (CPI).

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.

Following Monday’s decline, EUR/USD reversed its direction and registered strong gains on Tuesday. The pair preserves its bullish momentum and trades in positive territory above 1.1700 in the European session on Wednesday.

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).