America’s Roundup: Dollar soft, euro, sterling hit new highs,Wall Street ends mixed, Gold climbs, Oil retreats 
Market Roundup
• Italian Industrial Production (MoM) (Oct) -1.0%, -0.3% forecast, 2.7% previous
• Italian Industrial Production (YoY) (Oct) -0.3%, 0.2%forecast,1.4% previous
•Greek Industrial Production (YoY) (Oct) 6.4%,7.3% previous
•Italian 12-Month BOT Auction 2.181%,2.063% previous
Looking Ahead Economic Data (GMT)
• 13:30 US Employment Benefits (QoQ) (Q3) 0.70% previous
• 13:30 US Employment Cost Index (QoQ) (Q3) 0.9% forecast,0.9% previous
• 13:30 US Employment Wages (QoQ) (Q3) 1.00% previous
• 13:30 US Real Earnings (MoM) (Oct) -0.1% previous
•14:45 Canada BoC Interest Rate Decision 2.25% forecast,2.25% previous
•15:30 US Crude Oil Inventories -1.200M forecast,0.574M previous
•15:30 US EIA Refinery Crude Runs (WoW) 0.433M previous
•15:30 US Crude Oil Imports -0.470M previous
Looking Ahead Events And Other Releases (GMT)
• 14:45 Canada BoC Rate Statements
Currency Summaries
EUR/USD : The euro was little changed against the dollar on Wednesday ahead of a key Federal Reserve policy decision later in the day, with investors betting on a rate cut in what is expected to be one of the most contentious Fed meetings in years.Market participants have recently scaled back expectations for interest rate cuts in 2026, amid lingering inflation pressures and signs of a more resilient U.S. economy. Data released on Tuesday showed U.S. job openings edged higher in October, following a sharp increase in September.Adding to the discussion, White House economic adviser Kevin Hassett, the front-runner to become the next Federal Reserve chair, said Tuesday at the WSJ CEO Council that there is “plenty of room” for further rate cuts, although he cautioned that the outlook could shift if inflation picks up. Immediate resistance can be seen at 1.1674(Daily high), an upside break can trigger rise towards 1.1692(Higher BB).On the downside, immediate support is seen at 1.1595(SMA20), a break below could take the pair towards 1.1570(38.2%fib).
GBP/USD:Sterling edged higher on Wednesday, though gains were capped as investors looked ahead to a highly anticipated U.S. interest rate decision later in the day. The Federal Open Market Committee’s two-day meeting concludes on Wednesday, with markets widely expecting a rate cut at 19:00 GMT, followed by Chair Jerome Powell’s press conference at 19:30 GMT.Attention is also turning back to the UK growth outlook, with final GDP estimates due later this week ahead of the New Year. The latest release from the Office for National Statistics (ONS) pointed to modest growth of just 0.1%, amid reports that a recent cyberattack disrupting Jaguar Land Rover’s manufacturing operations may have weighed on economic activity.Meanwhile, markets are pricing in around an 86% probability that the Bank of England will cut interest rates by 25 basis points to 3.75% at its next policy meeting on December 19, limiting the upside in sterling.Immediate resistance can be seen at 1.3364(Higher BB), an upside break can trigger rise towards 1.3427(61.8%fib).On the downside, immediate support is seen at 1.3295(50%fib), a break below could take the pair towards 1.3182(SMA 20).
AUD/USD: The Australian dollar hovered near three month high on Wednesday as investors positioned for the possibility of hawkish guidance from the U.S. Federal Reserve. While the Fed is widely expected to announce a rate cut, policymakers are seen remaining divided, with some warning that inflation pressures could easily re-emerge, while others have focused on risks to the labour market.Support for the currency has also come from the Reserve Bank of Australia, which recently caught markets off guard with a sharply hawkish shift in tone. The RBA ruled out further rate cuts and warned that rate hikes could come as early as February if inflation fails to moderate.Further direction for the Australian dollar may come from domestic data, with Australia’s November employment report due on Thursday. Economists polled expect employment to rise by around 20,000, while the unemployment rate is forecast to remain steady at 4.4%.. Immediate resistance can be seen at 0.6652(38.2%fib), an upside break can trigger rise towards 0.6706(23.6%fib).On the downside, immediate support is seen at 0.6606(50%fib), a break below could take the pair towards 0.6559(61.8%fib)
USD/JPY: The dollar dipped on Wednesday as the yen recovered some ground as investors braced for the Fed policy announcements. All eyes were on the Fed's decision due later in the day, in which a 25-basis-point rate cut is almost fully priced in.Meanwhile, Bank of Japan (BOJ) meets next week and is expected to raise interest rates, though focus will also be on what Governor Kazuo Ueda says about the future policy path.Expectations of more expansionary fiscal measures in Japan have complicated the outlook for BOJ policy under which rates remain among the lowest in the world, in contrast to its peers elsewhere. Immediate resistance can be seen at 156.17(Dec 1st high) an upside break can trigger rise towards 157.40 (23.6%fib) .On the downside, immediate support is seen at 155.34 (38.2%fib) a break below could take the pair towards 153.35 (50%fib)
Equities Recap
European shares inched lower on Wednesday, as investors adopted a cautious stance ahead of the U.S. Federal Reserve's interest rate decision, while also parsing a slate of corporate announcements.
At (GMT 12:38),UK's benchmark FTSE 100 was last trading up at 0.45 percent, Germany's Dax was up by 0.45 percent, France’s CAC was last down by 0.22 percent.
Commodities Recap
Gold dipped on Wednesday as investors awaited an anticipated U.S. Federal Reserve rate cut and hints on future monetary policy, while silver continued its upward momentum to record levels..
Spot gold was down 0.3% to $4,197.91 per ounce at 1243 GMT. U.S. gold futures for February delivery inched 0.2% lower to $4,226.40 per ounce.
Oil prices held steady on Wednesday as investors monitored developments in the Russia-Ukraine peace talks and awaited the U.S. interest rate decision.
After declines of about 1% in the previous session, Brent crude was up 7 cents, or 0.1%, at $62.01 a barrel by 1039 GMT while U.S. West Texas Intermediate crude gained 10 cents, or 0.2%, to $58.35.
