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EUR/USD extends slide below 1.0500 ahead of Fed rate call
EUR/USD extends slide below 1.0500 amid a nervous wait-and-see stance. The pair's further upside remains capped as traders stay cautious and refrain from placing fresh bets ahead of the Federal Reserve's highly-anticipated policy announcements.
GBP/USD holds above 1.2700 after UK inflation data
GBP/USD enters a consolidation phase above 1.2700 following the earlier decline. The data from the UK showed that the annual CPI inflation rose to 2.6% in November from 2.3%, as expected. Investors gear up for the Fed's monetary policy decisions.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold near weekly lows ahead of Fed
Gold is practically flat near $2,650 on Wednesday after bouncing up from a one-week low it set on Tuesday. The precious metal remains on the defensive as the market braces for the outcome of the last Federal Reserve’s (Fed) meeting of the year.
Federal Reserve set for hawkish interest-rate cut as traders dial back chances of additional easing in 2025
The Federal Reserve is widely expected to lower the policy rate by 25 bps at the last meeting of 2024. Fed Chairman Powell’s remarks and the revised dot plot could provide important clues about the interest-rate outlook.
SHIB whale demand plunges as Solana memes dominate
Shiba Inu price opened trading at $0.000026 on Wednesday, its lowest opening price in 20 days dating back to November 29. On-chain data shows SHIB token struggling to attract whale demand as Solana memes dominate social channels.