New Zealand Electronic Card Retail Sales (YoY) dipped from previous 1.6% to -1% in December

New Zealand Electronic Card Retail Sales (YoY) dipped from previous 1.6% to -0.5% in December

New Zealand Electronic Card Retail Sales (MoM) down to -0.1% in December from previous 1.2%

The Japanese Yen (JPY) is little changed against the US Dollar (USD) on Wednesday, as rising political and fiscal concerns in Japan continue to weigh on sentiment. Meanwhile, a modest rebound in the Greenback is limiting the pair’s downside. At the time of writing, USD/JPY is trading around 158.15.

United States (US) President Donald Trump was once again the main market mover on Wednesday, saying they are seeking immediate talks with Europe on Greenland. He added Greenland would not be a threat to NATO if the territory were under US control.

US equities rebounded on Wednesday after President Trump ruled out using military force to acquire Greenland, easing a key source of market anxiety.

United States 20-Year Bond Auction climbed from previous 4.798% to 4.846%

The Euro (EUR) traded softer on Wednesday after two days of strong gains, with price action reflecting shifting US political headlines and their impact on the US Dollar (USD) and bond yields.

Artificial Intelligence (AI) tokens joined Bitcoin (BTC) and the wider crypto market in a downtrend over the past three days amid geopolitical tensions over the US's intentions to acquire Greenland. However, a few of these tokens are looking to establish support and retest key resistance levels.

Silver price (XAG/USD) retreats after reaching an all-time high (ATH) of $95.56 after US President Donald Trump eased his tone in his Davos speech, saying that he is ready to negotiate Greenland with Denmark. At the time of writing, XAG/USD trades at $93.57, down over 1%.

GBP/USD turns negative on the day following remarks by the US President Donald Trump in Davos who said that he would not use excessive force to get Greenland. At the time of writing, the pair traded at 1.3433, down 0.03%.

The Pound Sterling (GBP) is weaker against the dollar, underperforming most G10 currencies as markets digest mixed UK inflation data and a modest repricing of Bank of England easing expectations, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is soft, down a fractional 0.1% vs. the US Dollar (USD) as it underperforms all of the G10 currencies with the exception of GBP and CHF and fades a minor portion of Tuesday’s gains, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Swiss Franc (CHF) trades on the back foot against the US Dollar (USD) on Wednesday, as the Greenback finds some footing after coming under sustained pressure earlier this week. At the time of writing, USD/CHF is trading around 0.7940, snapping a three-day losing streak.

Consumption and industry are continuing to recover, despite the looming new risks to the outlook. The likely passage of a 2026 budget in France is also a welcome development. We do not expect a lasting solution to France’s fiscal woes, but nor do we expect the country to descend into a crisis.

The Canadian Dollar (CAD) is little changed on the session and consolidating yesterday’s gains as markets stabilize and investors await developments, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Investor caution remains elevated amid geopolitical tensions, unsettled global equities, and a sharp rally in gold, which has climbed more than $100 to $4865.

United States Construction Spending (MoM) fell from previous 0.2% to -0.6% in September

United States Pending Home Sales (YoY) declined to -3% in December from previous 2.6%

United States Construction Spending (MoM) above forecasts (0.1%) in October: Actual (0.5%)

United States Construction Spending (MoM): 0.5% (September) vs 0.2%

United States Pending Home Sales (MoM) came in at -9.3% below forecasts (-0.3%) in December

Monero (XMR) is extending its downtrend, below the $500 level at the time of writing on Wednesday, as sellers remain dominant during the American session. XMR has declined by approximately 38% from a recent high of $800, reached last Wednesday.

The British Pound (GBP) edges lower against the Canadian Dollar (CAD) on Wednesday, as the latest UK inflation data fails to derail market expectations for a gradual easing path from the Bank of England (BoE). At the time of writing, GBP/CAD trades around 1.8540, down nearly 0.22% on the day.

United States Redbook Index (YoY) dipped from previous 5.7% to 5.5% in January 16

Canada Raw Material Price Index above forecasts (-0.5%) in December: Actual (0.5%)

Canada Industrial Product Price (MoM) below forecasts (0.3%) in December: Actual (-0.6%)