The Pound Sterling (GBP) trades lower against the US Dollar (USD) around 1.3280 in Wednesday’s North American session.

United States New Home Sales (MoM) came in at 0.724M, above forecasts (0.68M) in March

A preliminary reading of S&P Global’s Composite PMI showed US business activity expanded at a slower pace in April, with the index easing to 51.2 from March's 53.5. The figure—just above the 50 threshold that separates growth from contraction—points to a softening in private sector momentum.

Silver price (XAG/USD) trades firmly around $33.00 during North American trading hours on Wednesday. The white metal strengthens as fears of an intense trade war between the United States (US) and China have diminished after President Donald Trump signaled the possibility of a deal with Beijing.

United States S&P Global Services PMI came in at 51.4, below expectations (52.8) in April

United States S&P Global Manufacturing PMI came in at 50.7, above forecasts (49.4) in April

United States S&P Global Composite PMI declined to 51.2 in April from previous 53.5

The Wall Street Journal reported on Wednesday that the White House is considering slashing tariffs on Chinese goods to de-escalate the trade conflict.

Japanese Yen (JPY) is soft, down 0.2% against the US Dollar (USD) and underperforming most of the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The Euro (EUR) is soft and entering Wednesday’s NA session with a modest decline against the US Dollar (USD), having recovered from a short-lived bout of early Asian session weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Markets are trading with a sense of relief this morning. Late yesterday, President Trump said he had no intention of firing Fed Chair Powell and remarked that the 145% tariffs on China could be reduced substantially following a trade deal.

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading flat to marginally higher around 99.20 at the time of writing on Wednesday after a pop in early Asian trading towards the 100.00 big figure got completely erased.

EUR/USD trades broadly stable around 1.1400 in Wednesday's North American session after dipping to near 1.1300 earlier in the day. The major currency pair bounces back as the US Dollar (USD) gives up intraday gains.

Canada New Housing Price Index (YoY) remains unchanged at 0.1% in March

Canada New Housing Price Index (MoM) in line with expectations (0%) in March

Gold price (XAU/USD) heads towards $3,322 on Wednesday at the time of writing, in a second day of profit taking. The profit taking picked up on comments from United States (US) President Donald Trump, who did a 180-degree turn on his stance on China and the Federal Reserve (Fed).

Mexico Retail Sales (MoM) down to 0.2% in February from previous 0.6%

Mexico Retail Sales (YoY) down to -1.1% in February from previous 2.7%

In an interview with Bloomberg on Tuesday, European Central Bank (ECB) policymaker and Bundesbank President Joachim Nagel noted that the world economy is in a very delicate situation and said that they need to have a better understanding of how to find compromises on tariffs.

AUD/USD gains sharply to near 0.6420 as the US Dollar gives up intraday gains.

The Copper price can make up further ground after the Easter break.

The data on Gold exports in March published by the Swiss customs authority last Thursday showed a split picture, as in the two previous months, Commerzbank's commodity analyst Carsten Fritsch notes.

The fact that Silver cannot keep pace with gold is explained by the importance of industrial demand, which is developing less dynamically than previously expected, Commerzbank's commodity analyst Carsten Fritsch notes.

United States MBA Mortgage Applications: -12.7% (April 18) vs previous -8.5%

While the Gold price is rushing from record to record and the rise recently even gained momentum, the Silver price has not even fully made up for the price drop at the beginning of April, Commerzbank's commodity analyst Carsten Fritsch notes.

Last week, OPEC published a new compensation plan to offset the previous overproduction, Commerzbank's commodity analyst Carsten Fritsch notes.

The Brent oil price rose significantly yesterday and regained last Thursday's interim high of just over $68 per barrel in the morning, Commerzbank's commodity analyst Carsten Fritsch notes.

Following the US President's verbal attack on Federal Reserve Chairman Powell, the price of Gold reached a new record high of $3,500 per troy ounce. In euro terms, the precious metal has now also broken through the 3,000 mark, Commerzbank's commodity analyst Carsten Fritsch notes.

The USD/CAD pair retreats from the high of 1.3860 posted earlier in the day to near 1.3800 during European trading hours on Wednesday.

Germany 10-y Bond Auction down to 2.47% from previous 2.68%