EUR/USD is trading at 1.0988, 0.05% down since previous day close. During the early European session on Wednesday, the EUR/USD pair trades flat around 1.0990. Before the release of important economic statistics from the US and the Eurozone, traders would rather stay out of the market. Technical analysis indicates that the market is rising above the 50-day moving average, pointing to a positive trend. If it breaks through, the nearest resistance is 1.1009; if it doesn’t, it can go as high as 1.1038 and as low as 1.0912.

US 100   is trading at 19033, 0.12% up since previous day close. Investors are waiting for proof that the Federal Reserve will begin reducing interest rates in September, so all eyes will be on the monthly release of U.S. consumer prices later in the afternoon. Inflation in the UK was comparatively low, and UBS’s quarterly profit was impressive. The market is trading below the 50-day MA, indicating a bearish trend, per a daily chart analysis. The closest support is 18433, while the closest resistance is 19078.

XAU/USD is trading at 2464, 0.01% down since previous day close. Bulls in the gold price stay put ahead of the important publication of US inflation data. Demand for the safe-haven precious metal is weakened by an overall uptrend in the equities markets, although the downside is somewhat restrained by geopolitical tensions resulting from the ongoing wars in the Middle East. As the market is above the 50-day moving average, an upswing is likely. The closest resistance on the upside is 2478; if it breaks, it will hit 2483.