India WPI Inflation came in at 0.83%, above expectations (0.3%) in December

The USD/JPY pair posts a fresh one-and-a-half-year high near 159.45 during the early European trading session on Wednesday. The pair strengthens as the Japanese Yen (JPY) continues to underperform across the board amid political uncertainty in Japan.

The Indian Rupee (INR) trades higher against the US Dollar in the opening session on Wednesday. The USD/INR pair drops to near 90.30 as the Indian Rupee gains on the outcome of trade talks between the United States (US) and India on Tuesday.

Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) recorded gains of 7% to 14% on Tuesday, signaling a potential reversal to the upside. DOGE and SHIB hold steady after the bounce back while the frog-themed PEPE extends gains, signaling further upside potential.

Zilliqa (ZIL) price trades above $0.0058 on Wednesday, up more than 13% over the last two days. Bullish sentiment strengthens as trading volume and Open Interest (OI) rise, alongside positive funding rates. On the technical side, indicators suggest a rally continuation, targeting the $0.0065 mark.

The USD/CHF pair posts modest gains around 0.8010 during the early European session on Wednesday. The Greenback strengthens against the Swiss Franc (CHF) after US inflation data that was broadly in line with estimates.

EUR/USD moves little after registering modest losses in the previous session, trading around 1.1650 during the Asian hours on Wednesday. The 14-day Relative Strength Index (RSI) momentum indicator, currently at 40 (below the 50 midline), signals weak momentum without indicating oversold conditions.

Monero (XMR) continued its bullish run on Tuesday as it surged to a new all-time high of $692. The token is up nearly 10% over the past 24 hours, stretching its weekly gains above 50%.

Gold prices rose in India on Wednesday, according to data compiled by FXStreet.

Gold (XAU/USD) rebounds toward the record high of $4,634.64 reached in the previous session, trading around $4,620.00 per troy ounce on Wednesday.

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trade in green on Wednesday after rallying more than 4%, 7% and 5%, respectively, the previous day. BTC closed above key resistance, while ETH and XRP found support at key levels.

Silver price (XAG/USD) extends its winning streak for the fourth trading day on Wednesday. The white metal rallies further to near $90.00 during the Asian trading session as demand for safe-haven assets remains firm amid geopolitical tensions.

Altcoins, such as Dash (DASH), Story (IP), and Optimism (OP), are leading the broader cryptocurrency rally over the last 24 hours. The altcoins hold Tuesday's gains but ease on Wednesday, risking a potential rollback. 

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.70 during the Asian trading hours on Wednesday. The WTI price declines as Venezuela resumes exports and the American Petroleum Institute (API) shows a big build in US crude inventories.

USD/CAD remains stronger for the second successive session, trading around 1.3900 during the Asian hours on Wednesday.

China Trade Balance USD above expectations ($113.6B) in December: Actual ($114.1B)

China Exports (YoY) CNY dipped from previous 5.7% to 5.2% in December

China Imports (YoY) above forecasts (0.9%) in December: Actual (5.7%)

China Trade Balance CNY rose from previous 792.57B to 808.8B in December

China Exports (YoY) registered at 6.6% above expectations (3%) in December

AUD/USD holds ground after registering modest losses in the previous session, trading around 0.6680 during the Asian hours on Wednesday.

The GBP/USD pair trades in negative territory around 1.3425 during the Asian trading hours on Wednesday, pressured by renewed US Dollar (USD) demand. Traders brace for the US Retail Sales and Producer Price Index (PPI) data later on Wednesday.

NZD/USD extends its losses for the second successive day, trading around 0.5730 during the Asian hours on Wednesday.

New Zealand ANZ Commodity Price fell from previous -1.6% to -2.1% in December

Japan Money Supply M2+CD (YoY): 1.7% (December) vs previous 1.8%

The General Administration of Customs will publish its data for December on Wednesday at 03.00 GMT. Trade balance is expected to widen to $113.60B in December, compared to $111.68B in the previous reading.

Gold price (XAU/USD) rises to around $4,600 during the early Asian session on Wednesday. The precious metal gains momentum as traders firm up bets on US interest rate cuts after the release of inflation data.