Canada Foreign Portfolio Investment in Canadian Securities registered at $46.62B above expectations ($21.84B) in October

Canada Canadian Portfolio Investment in Foreign Securities dipped from previous $22.12B to $-11.58B in October

The EUR/JPY pair is up 0.25% to near 182.15 during the European trading session on Wednesday.

Bitcoin (BTC) is edging lower toward $86,000 at the time of writing on Wednesday amid broad risk aversion sentiment in the cryptocurrency market. Ethereum (ETH) holds above $2,900, but its upside has been capped at $3,000 amid diminishing institutional interest.

United States MBA Mortgage Applications: -3.8% (December 12) vs previous 4.8%

Ripple (XRP) is trading near $2.00 ahead of the New Year after a volatile 2025 that saw the cross-border remittance token swing to a new record high of $3.66 in July. 

The Euro (EUR) has benefited from Germany’s fiscal loosening and diversification flows, but stronger US growth projections and resilient consumer spending suggest EUR/USD may remain range-bound in 2026 rather than extending a major rally, Rabobank's FX analyst Jane Foley reports.

Gold (XAU/USD) trades with a mild positive bias on Wednesday but struggles to build on early gains, as a rebound in the US Dollar (USD) caps upside momentum. At the time of writing, XAU/USD is trading around $4,315, easing back after briefly touching $4,342 during the early European session.

The Pound Sterling (GBP) is under pressure after UK inflation fell more than expected in November, paving the way for the Bank of England (BoE) to deliver a widely anticipated 25bps rate cut tomorrow. Markets now price in an accelerated easing cycle over the next year, BBH FX analysts report.

The AUD/USD pair extends its correction further to near 0.6620 during the European trading session on Wednesday, which started on Thursday after refreshing an almost three-month high near 0.6686.

The European Union (EU) parliament announces during European trading hours on Wednesday that it has approved a deal to phase out Russian gas imports by late 2027.

A double-NFP data release always had the potential to fuel a spike in volatility and a shift in market pricing into year-end, but alas it was not to be with the data certainly indicating still weak labour market conditions, but just not weak enough to see global investors reconsider the current prof

USD/CAD trims some losses and reaches 1.3780 after bouncing from 1.3745 lows.

EUR/USD pulled back toward 1.1700 after testing 1.1800, as Germany’s IFO business expectations dipped slightly. The euro remains supported by the ECB’s steady policy stance versus expected Fed easing, BBH FX analysts report.

If there was any doubt about a rate cut at the BoE’s MPC meeting tomorrow then those doubts are surely gone now after this morning’s CPI data for November revealed a much weaker than expected set of data.

Bitcoin (BTC) remains under pressure, trading below $87,000 on Wednesday, nearing a key support level. A decisive daily close below this zone could open the door to a deeper correction.

USD recovered strongly against all major currencies after hitting a ten-week low yesterday. Gold and crude oil prices got a modest boost after the US ratchet-up pressure on Venezuela. President Donald Trump ordered a total blockade of all sanctioned oil tankers going into and leaving Venezuela.

Silver’s (XAG/USD) is standing comfortably at the upper range of the $65.00s on Wednesday’s European session, after having hit fresh all-time highs at $66.54 earlier today as delayed US labour figures failed to boost confidence in the US economy.

The USD/JPY pair gains 0.55% and jumps higher to near 155.50 during the European trading session on Wednesday. The pair strengthens as the US Dollar (USD) outperforms its peers, following the release of the United States (US) Nonfarm Payrolls (NFP) report for October and November.

As the Fed steps back after its December rate cut, attention turns to the Bank of England (BoE), European Central Bank (ECB), and Bank of Japan (BoJ) this week, with expectations for a BoE rate cut, a steady ECB, and a gradual BoJ hike amid resilient global growth and cautious central bank policy, B

After a long drought of data, the labour market report hit hard. October payrolls fell by 105k, while November payrolls increased by 64k. Combined with a small rise in the participation rate, this led to the unemployment rate rising to 4.6%, from a high 4.4% in September.

Combined October and November US jobs data reinforced downside risks to the labor market, with unemployment rising to 4.6%, while markets now await Fed’s Christopher Waller’s speech for further clues ahead of Thursday’s ECB meeting, ING's FX analyst Chris Turner notes.

US Dollar (USD) eased around the November payrolls report, which highlighted ongoing labor market weakness but lacked the severity to shift rate cut expectations, keeping the Fed’s easing bias intact ahead of Thursday’s CPI release.

Eurozone Labor Cost Index came in at 3.3% below forecasts (3.5%) in 3Q

Eurozone Core Harmonized Index of Consumer Prices (MoM): -0.5% (November)

Eurozone Harmonized Index of Consumer Prices (YoY) came in at 2.1% below forecasts (2.2%) in November

Eurozone Core Harmonized Index of Consumer Prices (YoY) meets expectations (2.4%) in November