USD/CHF finds an intermediate support near 0.8600, however, the more downside remains favoured. The USD Index remains on backfoot as rate cut expectations outweigh. USD/CHF is seen declining further towards 0.8555. (FXStreet)

USD/CAD trades in positive territory on improved US Dollar. A break above 1.3350 could lead the pair to target the psychological level at 1.3400 before the seven-day EMA at 1.3410. Technical indicators suggest further decline and testing the weekly low at 1.3330. (FXStreet)

US Dollar Index struggles to halt losses amid dovish Fed’s outlook. Technical indicators suggest that DXY could test the support region around the weekly low at 102.06. The major level at 102.50 could act as a key barrier followed by the seven-day EMA at 102.58. (FXStreet)

GBP/USD edges lower ahead of CPI, PPI data from the United Kingdom. UK CPI (MoM) is expected to rise by 0.01%, while yearly inflation may ease at 4.4%. US Dollar retraces its recent losses amid a dovish sentiment surrounding the Fed. (FXStreet)

EUR/USD loses its recovery momentum around 1.0966 ahead of November’s German Producer Price Index (PPI) data. The pair maintains the bullish vibe above the key 100-hour EMA; the RSI indicator stands in bullish territory above 70. The first resistance level is seen at 1.0987; 1.0934 acts as an initial support level for the pair. (FXStreet)

EUR/GBP gains ground around 0.8645 following the UK inflation data. The UK Consumer Price Index (CPI) came in worse than market expectations. The European Central Bank’s Lagarde warned that inflation might rise again in December as a result of colder weather. Traders will monitor October’s Eurozone Current Account, Construction Output, and ECB’s Lane speech. (FXStreet)

NZD/USD extends its gains on bullish sentiment despite a stable US Dollar. Kiwi Consumer Confidence improved to 93.1 from 91.9 prior. Chicago Fed President Austan Goolsbee mentioned that the market's enthusiasm for interest rate trajectory exceeded realistic expectations. (FXStreet)

USD/MXN continues to lose ground despite the dovish Banxico. Mexico Retail Sales (MoM) are expected to be flat at 0.0% and yearly data to ease at 2.0%. US Dollar remains stable despite downbeat US bond yields. (FXStreet)

WTI edges lower as US Dollar attempts to retrace its recent losses. US appointed a task force to protect shipping commerce in the Red Sea. US is expected to increase oil production which may exceed the growing global demand in 2024. (FXStreet)

Gold price consolidates near the weekly top amid a modest USD uptick and the risk-on mood. The fundamental backdrop favours bullish traders and supports prospects for additional gains. The US Consumer Confidence Index is eyed for some impetus ahead of the US PCE Price Index. (FXStreet)

Silver lacks any firm intraday direction and oscillates in a range on Wednesday. The setup seems tilted in favour of bulls and supports prospects for further gains. Dips towards the 200-day SMA are likely to be bought into and remain limited. (FXStreet)

Source: FXStreet, DailyFX

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