New Zealand ANZ Business Confidence rose from previous 58.1 to 67.1 in November

The EUR/USD registers back-to-back bullish days boosted by speculation that the Federal Reserve might cut rates at the December meeting, following the release of a strong jobs report. At the time of writing, the pair trades at 1.1595, up 0.22% after bouncing off daily lows of 1.1547.

New Zealand Retail Sales ex Autos (QoQ) climbed from previous 0.7% to 1.9% in 3Q

New Zealand Retail Sales (QoQ) came in at 1.9%, above forecasts (0.6%) in 3Q

The Dow Jones Industrial Average (DJIA) gained another 300 points on Wednesday, clawing back recent losses and retesting the 47,500 level.

The Canadian Dollar (CAD) found a fresh round of bidding strength on Wednesday, lurching into its highest levels against the US Dollar (USD) in a week.

The Federal Reserve (Fed) Beige Book highlighted on Wednesday that wages are growing slowly, which has led to further declines in consumer spending, except among higher-end shoppers.

The US Dollar (USD) remained on the back foot on Wednesday despite auspicious US data releases ahead of the Thanksgiving Day holiday. Meanwhile, investors continued to see the Federal Reserve delivering another rate cut in December.

Gold (XAU/USD) rises sharply on Wednesday, edging up over 0.80% sponsored by falling US Treasury yields and a weaker US Dollar, as the odds for a rate cut by the Federal Reserve (Fed) remain elevated despite strong economic data in the US.

United States 7-Year Note Auction declined to 3.781% from previous 3.79%

West Texas Intermediate (WTI) Crude Oil trades little changed on Wednesday, hovering near one-month lows as traders show a muted reaction to the latest US Energy Information Administration (EIA) report.

United States Baker Hughes US Oil Rig Count: 407 vs previous 419

The Japanese Yen (JPY) remains under pressure against the US Dollar (USD) on Wednesday despite a broadly weaker Greenback.

EUR/JPY trades higher on Wednesday around 181.30, up 0.40% at the time of writing. The cross benefits from improving risk sentiment as investors closely track political statements hinting at potential progress toward a peace agreement between Russia and Ukraine.

United States 4-Week Bill Auction rose from previous 3.89% to 3.905%

United States EIA Natural Gas Storage Change increased to -11B in November 21 from previous -14B

Russia Industrial Output came in at 3.1%, above expectations (0.3%) in October

Silver (XAG/USD) moves strongly higher this Wednesday, trading around $52.45 at the time of writing, up 2.00% on the day.

United States EIA Crude Oil Stocks Change rose from previous -3.426M to 2.774M in November 21

EUR/GBP retreats on Wednesday after the latest United Kingdom (UK) budget revealed by Chancellor Rachel Reeves appears to be well received by investors, which initially sold off the British Pound (GBP), trimming its earlier losses. At the time of writing, the cross trades at 0.8766, down 0.24%.

Gold (XAU/USD) holds firm on Wednesday as traders lean into a more dovish Federal Reserve (Fed) outlook, with XAU/USD trading around $4,150, easing slightly after climbing to two-week highs near $4,173 earlier in the day.

The Euro (EUR) holds firm against the US Dollar (USD) on Wednesday, with EUR/USD edging higher after a brief dip following the latest US economic data. At the time of writing, the pair is trading around 1.1580, recovering from a daily low of 1.1547.

United States Chicago PMI came in at 36.3 below forecasts (44.3) in November

Chancellor Reeves sidestepped the biggest fiscal dangers, delivering limited near-term tightening while preserving headroom through backloaded tax hikes, NOMURA's FX analyst Dominic Bunning reports.

Gold’s under-owned phase appears over. 13F filings show a sharp rise in institutional ETF ownership, options premia have shifted toward the ETF, and recent inflows are driven by retail-linked investors and hedge funds.

The Canadian Dollar (CAD) is quietly consolidating for a fourth consecutive session and extending its tight range from last Friday, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

There were 216,000 Initial Jobless Claims in the week ending November 22, a decrease of 6,000 from the previous week's revised level, the US Department of Labor (DOL) reported on Wednesday. This reading came in better than the market expectation of 225,000.

New orders for manufactured durable goods orders in the US rose 0.5%, or $1.5 billion, to $313.7 billion in September, the US Census Bureau reported on Wednesday.

The British Pound (GBP) edges higher against the US Dollar (USD) on Wednesday as markets digest the United Kingdom’s Autumn Budget, with traders weighing fresh fiscal measures and updated economic projections.

United States Continuing Jobless Claims: 1.96M (November 14) vs previous 1.974M