EUR/USD retreats from a three-week high at 1.1012. A breakthrough above the 1.1000 level could lead the pair to test a two-month high at 1.1017. 1.0950 major level could act as a key support followed by the seven-day EMA at 1.0938. (FXStreet) 

USD/CHF dropped to a five-month low at 0.8557 on heightened speculation of the dovish Fed outlook. Subdued US GDP data increased the chances of the Fed’s rate cuts in early 2024. Middle East conflict could give rise to the demand for the safe-haven Swiss Franc. (FXStreet) 

GBP/USD drifts lower to 1.2682 ahead of UK GDP and US PCE data. The pair keeps the bullish vibe intact above the 100-hour EMA; RSI momentum indicator stands above 50. The first resistance level will emerge at 1.2740; 1.2625 acts as a key support level for the pair. (FXStreet) 

USD/CAD continues to lose ground on the subdued US Dollar. Technical indicators suggest the confirmation of further decline towards the major level at 1.3250. A break above 1.3300 could provide support for the pair to aim the seven-day EMA at 1.3354. (FXStreet) 

US Dollar Index faces negative sentiment due to the expected dovish stance from the Fed. Subdued US GDP data increased the chances of the Fed’s rate cuts in early 2024. Fed members rejected the speculation of rate cuts in early 2024. Traders await Core PCE - Price Index data to gain more cues on the US economic scenario. (FXStreet) 

EUR/GBP attracts some sellers around 0.8660 after the UK growth numbers data. UK Q3 final GDP came in worse than expected, shrinking 0.1% QoQ versus 0% prior. ECB’s Guindos said it’s premature to start easing monetary policy; November’s German PPI came in worse than expected. (FXStreet) 

NZD/USD finds sell-off near 0.6300 as focus shifts to US core PCE price index data. A sticky US core PCE report could offer some support to the US Dollar. The Kiwi pair trades in an upward-sloping chart pattern. (FXStreet) 

WTI price experiences upward support on disruptions in the Red Sea by Houthi attacks. Germany's Hapag-Lloyd and Hong Kong's OOCL will avoid the Suez Canal waterway. Angola decided to exit the OPEC+ as the country's interests were not being served. (FXStreet) 

Gold price hits a near three-week high amid bets for an early rate cut by the Federal Reserve. The US bond yields and the USD languish near a multi-month low, lending additional support. Traders now look to the US PCE Price Index for fresh cues about the Fed’s interest rate outlook. (FXStreet) 

Silver edges higher for the fourth straight day and climbs a near three-week top on Friday. The technical setup favours bulls and supports prospects for a further appreciating move. Corrective pullback could now be seen as a buying opportunity near the 24.00 round figure. (FXStreet) 

Source: FXStreet, DailyFX

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