Trading news

AUD/USD has broken above a descending trend line and the top of its multi-month range, signaling renewed upside momentum. A pullback toward 0.6650 may offer support, with gains potentially extending toward 0.6855–0.6940, Société Générale's FX analysts note. .

Germany 10-y Bond Auction climbed from previous 2.67% to 2.83%

Eurozone Core Harmonized Index of Consumer Prices (MoM) increased to 0.3% in December from previous -0.5%

Italy Consumer Price Index (EU Norm) (MoM) rose from previous -0.2% to 0.2% in December

Italy Consumer Price Index (EU Norm) (YoY) in line with forecasts (1.2%) in December

Italy Consumer Price Index (YoY) came in at 1.2%, above forecasts (1.1%) in December

Italy Consumer Price Index (MoM) in line with forecasts (0.2%) in December

Eurozone Core Harmonized Index of Consumer Prices (YoY) below expectations (2.4%) in December: Actual (2.3%)

Eurozone Harmonized Index of Consumer Prices (MoM): 0.2% (December) vs -0.3%

Eurozone Harmonized Index of Consumer Prices (YoY) in line with forecasts (2%) in December

Pound Sterling (GBP) is likely to range-trade, most likely between 1.3470 and 1.3535. In the longer run, GBP could rise to 1.3590; the odds of a continued rise above this level are not high.

Fed Governor Miran reiterated his call for aggressive rate cuts, but his comments were seen as predictable and had little impact on markets.

The price of the US benchmark WTI Oil remains pinned near the three-week lows, sub-$56.00 hit earlier on Wednesday, as an unexpected US deal to import Crude from Venezuela has increased market concerns of an Oil glut.US President Donald Trump announced on Tuesday that the US will import 30 to 50 mil

Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $79.60 per troy ounce, down 2.07% from the $81.29 it cost on Tuesday.

United Kingdom S&P Global Construction PMI up to 40.1 in December from previous 39.4

Germany Baden-Wuerttemberg CPI (YoY) down to 1.9% in December from previous 2.2%

EUR is likely to edge lower, but any decline is unlikely to reach the major support at 1.1650. In the longer run, bias remains tilted to the downside, but EUR must close below 1.1680 before a move toward 1.1650 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Germany Baden-Wuerttemberg CPI (MoM): 0.2% (December) vs -0.3%

Silver price (XAG/USD) depreciates by 1.75% after three days of gains, trading around $79.30 per troy ounce during the European hours on Wednesday. The price of the grey metal declines as investors lock in profits following its rally toward record highs.

The impact of the Venezuelan shock has largely faded, with oil, equities, and FX markets reverting to pre-January levels as investors step back from trading geopolitical headlines.