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EUR/USD clings to strong daily gains above 1.1000 after US CPI
EUR/USD trades at its highest level since early January above 1.1000 in the American session on Wednesday. The US Dollar struggles to find demand after July inflation data came in line with market expectations, allowing the pair to push higher.
GBP/USD holds near 1.2850 following UK and US inflation reports
GBP/USD struggles to gain traction and trades marginally lower on the day at around 1.2850. Earlier in the day, softer-than-expected inflation data from the UK weighed on Pound Sterling but July CPI figures from the US limited the USD's gains.
Gold retreats sharply as investors seek high-yielding assets
Gold remains under modest bearish pressure and trades below $2,460 in the second half of the day on Wednesday. Although the US Dollar stays on the back foot after the July CPI data, XAU/USD finds it difficult to push higher as sentiment turns mixed.
Maker price poised for rally following Grayscale's launch of MakerDAO Trust
Maker (MKR) saw a 6.3% price rally on Tuesday and remains up 0.3% at $2,147 on Wednesday. A negative spike in MKR's Exchange Flow Balance and rising open interest signal a bullish trend.
Federal Reserve scenarios: More twists and turns to come
Having priced a high chance of an inter-meeting Fed rate cut last week, interest rate expectations have moderated in the wake of better data and calming words from Fed officials.