EUR/USD attracts some sellers around 1.0745 amid the cautious mood. European Central Bank (ECB) expects inflation in the Eurozone to remain over 3% next year, supporting another rate hike on Thursday. Investors await the US Consumer Price Index (CPI) ahead of the ECB interest rate decision. (FXStreet)

NZD/USD treads waters to recover from the losses registered on Tuesday. Greenback’s recovery can be attributed to improved US bond yields and market caution ahead of US inflation data. Investors are expecting the Fed to continue the tightening of monetary policy through the end of the year 2023. (FXStreet)

USD/JPY scales higher for the second straight day and refreshes weekly high on Wednesday. The divergence Fed-BoJ policy outlook continues to act as a tailwind and remains supportive. The upside remains capped as traders await the US CPI before placing fresh directional bets. (FXStreet)

USD/CAD trades higher after a losing streak ahead of the US data releases. Higher Crude price is contributing support for the Canadian Dollar (CAD). US inflation is expected to be improved; underpinning the US Dollar (USD). (FXStreet)

GBP/USD oscillates in the 1.2480-1.2502 region in a trading band. The pair holds below the 50- and 100-hour EMAs on the one-hour chart; the RSI stands below 50. The critical resistance level is seen at the 1.2500-1.2505 zone; 1.2460 acts as an initial support level. (FXStreet)

AUD/USD remains under pressure around 0.6400 ahead of the US key inflation data. The Australian Consumer Confidence data exerts some pressure on the Aussie. The US Dollar (USD) may benefit from the higher for longer interest rate narrative in the US. US Consumer Price Index (CPI), Australian employment data will be closely watched events. (FXStreet)

USD/CHF consolidates above the previous gains ahead of US economic data. The rebound in US bond yields and market caution lift the US Dollar. Elevated inflation figures could further reinforce the potential of the pair. (FXStreet)

USD/INR hovers around 82.90 amid the renewed USD demand. Indian Consumer Price Index (CPI) for August came in at 6.83% YoY vs. 7.44% prior, below the expectation. The upside in the US Dollar (USD) is bolstered by the longer interest rate narrative in the US. Market players await the US CPI data due later in the American session on Wednesday. (FXStreet)

EUR/GBP attracts some buyers and edges higher to 0.8626 after the UK growth data. European Central Bank (ECB) anticipates inflation in the Eurozone to remain over 3% next year. UK growth number shrank 0.5% MoM in July vs. 0.5% expansion in June, worse-than-expectation. (FXStreet)

AUD/JPY: Retail trader data shows 50.65% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Sep 05 when AUD/JPY traded near 94.15, price has moved 0.24% higher since then. The number of traders net-long is 15.92% higher than yesterday and 22.63% higher from last week, while the number of traders net-short is 2.58% lower than yesterday and 9.13% higher from last week. (DailyFX)

Gold price trades directionless as investors shift focus to US inflation data. Investors worry that upside risks to headline CPI could elevate the likelihood of a final interest rate hike from the Fed. The US economy may avoid recession but higher interest rates could dampen economic prospects. (FXStreet)

WTI Crude Oil prices extend the upward trajectory and climb to a fresh YTD peak on Wednesday. The technical setup favours bullish traders and supports prospects for a further appreciating move. The RSI on the daily chart is already flashing overbought conditions and warrants some caution. (FXStreet)

Silver Price extends its losses due to recovery in the US Dollar (USD). Upbeat US Treasury yields could provide support in undermining the Silver asset. Elevated inflation figures could further reinforce the Fed’s hawkish tone, supporting the Greenback. (FXStreet)

Source: FXStreet

Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.