The US Dollar (USD) is finding it difficult to build on Tuesday recovery gains early Wednesday as investors' focus shift to upcoming data releases.  Led by tech-heavy Nasdaq Futures, US stock index futures trade in positive territory and the 10-year US Treasury bond yield hold steady slightly above 3.4%. Durable Goods Orders for March and Wholesale Inventories will be featured in the US economic docket ahead of Thursday's highly anticipated Gross Domestic Product (GDP) report for the first quarter. (FXStreet)

AUD/USD drops to its lowest level since mid-March in reaction to softer domestic CPI print. The emergence of fresh USD selling lends some support to the major and helps limit losses. Traders now look forward to the US Durable Goods Orders data for short-term opportunities. (FXStreet)

GBP/USD catches fresh bids on Wednesday and reverses a major part of the overnight downfall. The emergence of fresh selling around the USD is seen as a key factor pushing the pair higher. Traders now look forward to the US Durable Goods Orders data for short-term opportunities. (FXStreet)

EUR/USD picks up renewed buying interest and surpasses 1.1000. The Greenback appears offered in tandem with shrinking risk aversion. Germany’s Consumer Confidence surprised to the upside in May. The single currency regains some composure and lifts EUR/USD back above the key hurdle at 1.1000 the figure. (FXStreet)

USD/JPY edges lower for the second successive day, though the downside lacks follow-through. The BoJ’s dovish outlook, along with a positive risk tone undermine the JPY and lend support. The recent slump in the US bond yields weighs on the USD and might cap the upside for the pair. (FXStreet)

USD/CAD fades recovery from intraday low as bulls struggle around one-month high. 50-DMA challenges immediate downside ahead of one-week-old ascending support line. Downward-sloping resistance line prods Loonie pair buyers amid nearly overbought RSI, bullish MACD signals. (FXStreet)

The USD benefited from souring market mood on Tuesday after Wall Street's main indexes opened in negative territory and continued to push lower. With Microsoft and Google Alphabet releasing upbeat earnings reports for the first quarter after the closing bell, however, technology stocks gained traction and Nasdaq Futures were last seen rising more than 1% on the day. On the other hand, major European equity indexes trade modestly lower in the early session. Meanwhile, the US Dollar Index started to edge lower 101.50 after having gained 0.5% on Tuesday.  (FXStreet)

USD/CHF is declining towards 0.8900 amid further correction in the US Dollar Index. Federal Reserve might remain hawkish while guiding on terminal rates if Durable Goods Orders data land above expectations. Solid Swiss ZEW Survey-Expectations would convey improving business conditions which will increase labor demand and will propel consumer spending. USD/CHF has attempted a recovery after testing prior support levels plotted from 0.8860 with weak selling pressure. (FXStreet)

USD/CNH prints the first daily loss in four as it eases from the highest levels in six weeks. Key DMA, nearly overbought RSI (14) challenges further upside of the offshore Chinese Yuan (CNH) pair. Four-month-old symmetrical triangle restricts short-term moves, ascending trend line from early February adds to downside filters. (FXStreet)

USD/INR is attempting a break above 82.00 ahead of US Durable Goods Orders data. An expansion in orders for Durable Goods to manufacturers indicates strong demand from households. Bottoming out US real estate despite higher interest rates from the Fed indicates that recession is not in picture for now. (FXStreet)

USD/MXN prints mild losses to consolidate the biggest daily jump in three weeks. Failure to cross 100-SMA appears less lucrative for Mexican Peso buyers unless slipping below previous resistance line from early April. 200-SMA, seven-week-long ascending trend line are the key levels to follow clear directions. (FXStreet)

Market slips into consolidation phase after heavy risk aversion. S&P500 Futures pare the biggest daily loss in a month, yields prod two-day downtrend. First Republican Bank renews fears of banking fallouts, US Treasury Secretary Yellen flags fears of “catastrophic” default. US data, risk catalysts are the key as sour sentiment underpins US Dollar, Gold and Yen demand. (FXStreet)

WTI picks up bids to pare the biggest daily loss in a week. Fears of cut in output by the key Oil refiners, cautious optimism in market underpin recovery moves. Surprise draw in API inventories adds strength to recovery moves. EIA Crude Oil Stocks Change, US Durable Goods Orders eyed for clear directions. (FXStreet)

Gold price retreats after two-day winning streak, clings to mild losses of late. Market’s cautious optimism ahead of US Durable Goods Orders allows XAU/USD to pare recent gains. US debt ceiling talks, banking updates also become important for clear Gold price directions. (FXStreet)

Silver price clings to mild gains after recovering from three-week low. Bearish MACD signals join lower high and lower low formation to lure XAG/USD sellers. 10-DMA, one-week-old descending trend line restrict immediate upside. $21.20 holds the key for further Silver price downside. (FXStreet)

CME Group’s flash data for crude oil futures markets noted open interest dropped for yet another session on Tuesday, this time by around 11.7K contracts. On the other hand, volume went up by around 163.3K contracts after two consecutive daily pullbacks. WTI faces some near-term consolidation. (FXStreet)

Source: FXStreet, DailyFX

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