The GBP/JPY cross extends the previous day's late pullback from the vicinity of mid-213.00s and trades with a negative bias on Wednesday, snapping a two-day winning streak.

EUR/CAD inches lower after three days of gains, trading around 1.6200 during the European hours on Wednesday. The currency cross struggles as the commodity-linked Canadian Dollar (CAD) receives support amid higher Oil prices.

EUR/USD holds firm above 1.1700, trading at 1.1722 at the time of writing on Wednesday, practically flat on the daily chart after having rallied 1.2% over the previous two days.

The Pound Sterling (GBP) gains against its major peers on Wednesday after the United Kingdom's (UK) Office for National Statistics (ONS) has reported that inflation grew at a faster-than-projected pace in December.

Solana (SOL) rises against headwinds by over 1% at press time on Wednesday, after four consecutive days of losses. Institutional inflows on Tuesday reaffirm steady interest in Solana, while retail sentiment falters, as evidenced by declining Open Interest and massive long liquidations.

European Central Bank (ECB) President Christine Lagarde said during European trading hours on Wednesday that trade disputes between the United States (US) and the European Union (EU) underscore the need for a deep review of how we organize the European economy.

Here is what you need to know on Wednesday, January 21:

South Africa Consumer Price Index (MoM) climbed from previous -0.1% to 0.2% in December

South Africa Consumer Price Index (YoY) meets expectations (3.6%) in December

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground after experiencing volatility and trading around 98.60 during the early European hours on Wednesday.

Indonesia Bank Indonesia Rate meets forecasts (4.75%)

The EUR/GBP cross loses ground to near 0.8720 during the early European session on Wednesday. The Pound Sterling (GBP) edges higher against the Euro (EUR) after the UK Consumer Price Index (CPI) inflation report.

United Kingdom Producer Price Index - Output (MoM) n.s.a came in at 0%, below expectations (0.1%) in December

United Kingdom Core Consumer Price Index (YoY) meets expectations (3.2%) in December

United Kingdom Consumer Price Index (YoY) came in at 3.4%, above forecasts (3.3%) in December

United Kingdom Retail Price Index (MoM) above forecasts (0.5%) in December: Actual (0.7%)

United Kingdom Retail Price Index (YoY) came in at 4.2%, above forecasts (4%) in December

United Kingdom Producer Price Index - Input (YoY) n.s.a fell from previous 1.1% to 0.8% in December

United Kingdom Producer Price Index - Input (MoM) n.s.a came in at -0.2%, below expectations (-0.1%) in December

United Kingdom Consumer Price Index (MoM) meets forecasts (0.4%) in December

United Kingdom PPI Core Output (YoY) n.s.a fell from previous 3.5% to 3.2% in December

Silver price (XAG/USD) turns sideways near the all-time high of 95.90 during the early European session on Wednesday. The white metal consolidates as investors await speech from United States (US) President Donald Trump in the World Economic Forum (WEF) at Davos, scheduled at 13:00 GMT.

BNB (formerly Binance Coin) loses ground as the broader cryptocurrency market falls, recording a 1% drop at the time of writing on Wednesday. Retail interest in the exchange token is declining, as evidenced by the massive wipeout of long positions and a decline in futures Open Interest.

The Sandbox (SAND) price rose more than 7%, trading above $0.147 on Wednesday after finding support at the key level the previous day. The bullish price action is further supported by whale accumulation and rising Open Interest (OI).

The NZD/USD pair trades in positive territory for the fourth consecutive day near 0.5835 during the early European session on Wednesday. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) as US President Donald Trump's tariff threats spark new fears of 'Sell America' trade.

The USD/CAD pair trades in a tight range around 1.3835 during the late Asian trading session on Wednesday, but is close to its over-a-week low of 1.3815.

West Texas Intermediate (WTI) Oil price extends its winning streak for the fourth consecutive day, trading around $59.80 per troy ounce during the Asian hours on Wednesday. Crude Oil prices gain on a temporary halt in output at two large fields in Kazakhstan.