US Pre Market Open: All targets hit on gold, US 30, and AUD/CHF, new set up for GBP/USD

EUR/USD keeps its range trade intact below 1.0500 in the European morning on Wednesday. Traders prefer to stay on the sidelines, awaiting a series of US economic data, including the high-impact PCE inflation data for placing fresh directional bets on the pair. 

GBP/USD trades on a stronger note above 1.2500 in Wednesday's early European session. The pair remains underpinned by a sustained US Dollar weakness and a negative shift in risk sentiment as traders turn cautious ahead of top-tier US data releases. 

Gold price builds on the overnight bonce from the $2,600 neighborhood, or a one-week low and gains some follow-through positive traction for the second straight day on Wednesday. 

Ripple's XRP is down 6% on Tuesday following record profit-taking among investors as its percentage of total supply in profit reached very high levels in the past week.

The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.

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