Daily market news

The British Pound (GBP) softens against the US Dollar (USD) on Wednesday, with the Greenback finding mild support amid reduced liquidity during the shortened US holiday session.

West Texas Intermediate (WTI) Crude Oil trades little changed on Wednesday as markets slip into holiday mode, with prices hovering near two-week highs amid thin liquidity.

EUR/GBP trades in negative territory around 0.8725 on Wednesday at the time of writing, extending a sequence of declines that began earlier in the week. The pair remains under pressure as the Pound Sterling (GBP) benefits from the Bank of England’s (BoE) relatively hawkish communication.

The USD/CHF pair extends its losing streak for the third trading day on Wednesday.

EUR/USD trades around 1.1800 on Wednesday at the time of writing, up 0.10% on the day, after reaching its highest level since late September earlier in the day.

EUR/JPY extends its losses for the third successive session, trading around 183.70 during the European hours on Wednesday. The currency cross remains within the ascending channel pattern, suggesting a persistent bullish bias.

Gold (XAU/USD) retreats slightly from a fresh all-time peak, around the $4,526 area touched earlier this Wednesday, and trades with a negative bias during the first half of the European session.

West Texas Intermediate (WTI) US Crude Oil prices touch a nearly two-week high, around the $58.55 region on Wednesday, and look to build on the recent recovery from the lowest level since May, touched last week.