Japan Construction Orders (YoY) climbed from previous -10.1% to 9.5% in November

Japan Foreign Investment in Japan Stocks declined to ¥-1234.8B in December 19 from previous ¥528.3B

Japan Foreign Investment in Japan Stocks fell from previous ¥528.3B to ¥-1B in December 19

United States 7-Year Note Auction: 3.93% vs 3.781%

The Canadian Dollar (CAD) holds modest gains against the US Dollar (USD) on Wednesday, even as the Greenback trades firm amid limited movement as markets drift into holiday mode. At the time of writing, USD/CAD is trading around 1.3675, hovering near its lowest level since July 25.

United States 4-Week Bill Auction declined to 3.57% from previous 3.58%

Gold (XAU/USD) trades on the back foot on Wednesday after surging to a fresh all-time high near $4,526 earlier in the day. Volatility picked up amid thin holiday liquidity ahead of Christmas, encouraging mild profit-taking at elevated levels.

Russia Industrial Output came in at -0.7% below forecasts (1.2%) in November

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.

Silver (XAG/USD) trades around $72.05 on Wednesday at the time of writing, up 0.70% on the day. The white metal extends its bullish momentum for a fourth straight day and reached a fresh all-time high at $72.71 earlier in the day, highlighting sustained investor appetite for precious metals.

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.

There were 214,000 Initial Jobless Claims in the week ending December 20, a decrease of 10,000 from the previous week's unrevised level, the US Department of Labor (DOL) reported on Wednesday. This reading came in better than the market expectation of 223,000.

United States Initial Jobless Claims came in at 214K, below expectations (223K) in December 19

United States Continuing Jobless Claims increased to 1.923M in December 12 from previous 1.897M

United States Initial Jobless Claims 4-week average declined to 216.75K in December 19 from previous 217.5K

The British Pound (GBP) trades slightly lower against the Japanese Yen (JPY) on Wednesday, though thin holiday trading conditions are keeping price action contained within a tight range.

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.

Mexico Jobless Rate meets expectations (2.7%) in November

Mexico Jobless Rate s.a: 2.7% (November) vs 2.6%

United States MBA Mortgage Applications declined to -5% in December 19 from previous -3.8%

The Pound Sterling (GBP) revisits the three-month high around 1.3535 against the US Dollar (USD) during the European trading session on Wednesday.

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

The USD/JPY pair trades 0.23% lower to near 155.80 during the European trading session on Wednesday. The pair extends its losing streak for the third trading day on Wednesday, which started after failing to gain further above an almost 11-month high near 158.00.

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.

The Indian Rupee (INR) faces selling pressure against the US Dollar (USD) on Wednesday. The USD/INR pair recovers to near 90.20, but is broadly in the corrective phase, following the Reserve Bank of India’s (RBI) intervention last week.

Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $71.66 per troy ounce, up 0.19% from the $71.53 it cost on Tuesday.

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.

The AUD/JPY cross attracts some sellers on Wednesday and sticks to modest intraday losses, around mid-104.00s during the first half of the European session. Spot prices, however, lack follow-through and remain close to the highest level since July 2024, touched the previous day.

The AUD/USD pair jumps to near 0.6717 during the European trading session on Wednesday, the highest level seen in over a year.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining flat after recovering daily losses and trading around 97.90 during the European hours on Wednesday.