Fundamental

The NASDAQ 100 eased after early gains, with sector rotation and upcoming PPI data shaping near-term sentiment, while Fed rate cut expectations remain a key driver.

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).

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.

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.