EUR/USD extends its losses to near 38.2% Fibonacci retracement level at 1.0867. A break below the 1.0850 level could prompt the pair to reach the psychological region around the 1.0800 level. The selling interest could outweigh the buying interest at the psychological level of 1.0900. (FXStreet)

GBP/USD trades in negative territory for two straight days on Wednesday.  The major pair holds below the key EMA with an oversold RSI condition. The critical support level will emerge at the 1.2600 mark; 1.2686 acts as an immediate resistance level for GBP/USD.  (FXStreet)

USD/CHF moves on an upward trajectory as traders adopt a cautious stance. US has conducted a third military strike on a Houthi missile facility in Yemen. The recent Swiss inflation data could deter the SNB from reducing policy rates in the next policy meeting. (FXStreet)

USD/CAD continues its winning streak on the upbeat US Dollar. The decline in the WTI price weakens the Canadian Dollar. US Dollar cheers the market sentiment change due to the Middle East conflict. (FXStreet)

GBP/JPY extends its gains on the upbeat UK economic data. UK inflation and retail sales data reinforce the strength of the Pound Sterling. Traders await Friday’s National Consumer Price Index data from Japan. (FXStreet)

EUR/GBP loses momentum to 0.8595 following stronger UK CPI data. The United Kingdom CPI rose 4.0% YoY in December vs. 3.9% prior, stronger than expected. German Economic Confidence Unexpectedly improved in January. The December Eurozone Harmonized Index of Consumer Prices (HICP) will be due on Wednesday. (FXStreet)

USD/MXN could find resistance around the 38.2% Fibonacci retracement at 17.43. MACD indicates a shift towards bullish momentum for the pair. The 21-day EMA at 17.04 aligned with the psychological level at 17.00 could act as a key support region. (FXStreet)

NZD/USD loses ground as investors turn back toward US Dollar. The mixed Chinese data failed to improve the Kiwi Dollar. Traders await December’s US Retail Sales data to gain fresh impetus on the US economic landscape. (FXStreet)

WTI price moves sideways with a negative bias as US oil facilities increase output. EIA revealed that the Permian Basin production rose by 5.5 thousand bpd to 5.9 million bpd. US Central Command has reported about targeting a Houthi missile facility in Yemen. Improved US Dollar impacts the demand for dollar-denominated Crude oil among other countries. (FXStreet)

Gold price falls sharply as Fed Waller maintains a higher for longer interest-rates narrative. The last leg of high US inflation has turned out to be significantly stubborn. Guidance from three Fed policymakers and US Retail Sales data are due on Wednesday. (FXStreet)

Silver price falls sharply to near $22.70 as Fed Waller denied early rate cut discussions. The USD Index has climbed to near 103.50 amid a risk-off mood. Investors await the US Retail Sales and the Industrial Production data for further guidance. (FXStreet)

Source: FXStreet

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