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EUR/USD defends gains near 1.0500 ahead of Fed rate call
EUR/USD defends minor bids near 1.0500 in the European session on Wednesday. The pair's further upside remains capped as traders stay cautious and refraining from placing fresh bets ahead of the Federal Reserve poicy announcements.
GBP/USD falls below 1.2700 after UK inflation data
GBP/USD remains pressured below 1.2700 in Eurpean trading on Wednesday. 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 announcements.
Gold’s upside attempts remain limited with all eyes on the Fed
Gold is practically flat on Wednesday after bouncing up from a one-week low the previous day. 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.
Altcoins Cardano and Avalanche poised for double-digit correction
Cardano (ADA) and Avalanche (AVAX) prices continue to trade down on Wednesday after correcting more than 7% and 8%, respectively, so far this week. The technical outlook and on-chain metrics for both altcoins suggest the continuation of the pullback.
DJIA ends Tuesday in the red, sheds roughly 270 points
The Dow Jones Industrial Average shed another 360 points at its lowest on Tuesday as losses accumulate in the key index and begin to gather speed. The S&P 500 and the Nasdaq also closed in the red.
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