The Euro (EUR) is showing a frail recovery against the US Dollar (USD) on Tuesday, due more to the Greenback’s weakness ahead of the release of the US inflation data than to any noticeable Euro strength.

Commerzbank’s Volkmar Baur notes EUR/USD briefly dipped to 1.115 before recovering above 1.12 as French bond yields stabilized and sentiment improved following the IMF’s World Economic Outlook. He stresses that for EUR/USD today, US September CPI will overshadow structural issues, with elevated market expectations meaning a downside surprise could ease Federal Reserve pressure and support the Euro.

Here is what you need to know on Wednesday, October 14:

United Overseas Bank’s Quek Ser Leang and Lee Sue Ann highlight a strong EUR/USD rebound to around 1.1200 after recent oversold weakness.

USD/CAD loses ground for the second successive day, trading around 1.4200 during Asian hours on Wednesday. The technical analysis of the daily chart indicates that the price is remaining within the ascending channel pattern, suggesting an ongoing bullish bias.

The British Pound (GBP) trades higher against its major currency peers, except antipodeans, on Wednesday. In the early European trade, the British currency is up 0.2% at around 210.12 against the Japanese Yen (JPY).

The NZD/USD pair rebounds from a 17-month low to near 0.5625 during the early European trading hours on Wednesday. The US dollar (USD) weakens against the New Zealand Dollar (NZD) amid easing US bond yields and dovish signals from New York Federal Reserve (Fed) President John Williams.

The Indian Rupee (INR) extends the rally against the US Dollar (USD) for the third trading day on Wednesday, driven by fresh Reserve Bank of India’s (RBI) measures to curb the US Dollar’s (USD) demand.

USD/CHF extends its losses for the second consecutive day, trading around 0.8320 during Asian hours on Wednesday. The currency pair depreciated as the US Dollar (USD) lost ground following dovish remarks from New York Federal Reserve President John Williams.

The EUR/JPY cross trades in positive territory around 177.30 during the early European trading hours on Wednesday. The Japanese Yen (JPY) edges lower against the Euro (EUR) on a cautious Bank of Japan (BoJ) rate outlook.

The GBP/USD pair attracts some follow-through buying for the second straight day, advancing to a one-week high during the Asian session on Wednesday amid the ongoing US Dollar (USD) corrective slide.

The Euro (EUR) extends its Tuesday’s strong recovery move to near 1.1210 against the US Dollar (USD) during the Asian trade on Wednesday.

The Canadian Dollar (CAD) trades slightly higher against the US Dollar (USD) on Wednesday ahead of the United States (US) Consumer Price Index (CPI) data at 12:30 GMT. In the Asian trade, the USD/CAD pair is marginally down to near 1.4200, as the US Dollar extends its decline.

The NZD/USD pair gains some positive traction for the second day on Wednesday, building on the overnight bounce from the 0.5580 support zone, or the lowest level since April 2025.

AUD/USD gains ground for the second successive day, trading around 0.6990 during Asian hours on Wednesday. The pair remains stronger as the Australian Dollar (AUD) holds its gains following the release of Consumer Price Index (CPI) inflation data from China, Australia’s major trading partner.

The GBP/USD pair gathers strength to around 1.3260 during the early Asian trading hours on Wednesday. Dovish signals from New York Federal Reserve (Fed) President John Williams weigh on the US Dollar (USD) against the British Pound (GBP).

The USD/JPY pair edges higher on Wednesday, trading near mid-158.00s during the Asian session and within striking distance of the monthly high, touched last week. Spot prices, however, remain confined in a familiar range as traders now look forward to the US inflation figures for a fresh impetus.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7249 compared to the previous day's fix of 6.7298 and 6.6922 Reuters estimate.

The EUR/USD pair 1.1205 holds positive ground near 1.1205 during the early Asian trading hours on Wednesday. The US Dollar (USD) softens against the Euro (EUR) following remarks from New York Federal Reserve (Fed) President John Williams.

The Aussie Dollar registers a gain of over 0.34% against the US Dollar on Tuesday as news flows remain quiet, with US data coming mixed, while hostilities in the Middle East continue. The AUD/USD trades at 0.6983.

The Dollar fell against every major currency on Tuesday and fell least against the Yen, on the day the Bank of Japan (BoJ) was reported to be leaning against an October rate hike.

The Mexican Peso depreciates against the US Dollar as traders await the release of the US Consumer Price Index (CPI) report, which could set the pace for interest rates towards the end of the year. The USD/MXN trades at 18.36, up 0.57%.

Bank of England (BoE) external member Greene said that the UK's Bank Rate of 3.75% isn't holding the economy back much, and that waiting for inflation to spread into wages and prices would mean acting too late.

The GBP/JPY extends its modest gains for two straight days, up 0.16% as the cross-pair continues to consolidate near the 210.00 figure with no clear bias, while the Relative Strength Index (RSI) drifts higher towards its 50-neutral level, an indication that buyers are stepping in.

Scotiabank strategists Shaun Osborne and Eric Theoret highlight the Japanese Yen (JPY) as somewhat firmer, with USD/JPY pulling back from the upper 158s on comments from BoJ Governor Ueda and PM Takaichi about close US-Japan FX contact.

The Swiss Franc registers gains versus the US Dollar on Tuesday as risk appetite improves and energy prices retreat, weighing on the Greenback, which failed to advance even though US Treasury yields soared ahead of the US CPI release. The USD/CHF trades at 0.8331, down 0.18%.

Scotiabank strategists Shaun Osborne and Eric Theoret say the Euro (EUR) is marginally firmer versus the US Dollar (USD) on the softer USD tone, with ECB Governor Stournaras signalling continued gradual tightening.

EUR/USD trades on the front foot on Tuesday as a pullback in the US Dollar (USD) lifts the Euro (EUR).

Silver (XAG/USD) trades on the back foot on Tuesday, losing more than 1.5% as hawkish Federal Reserve (Fed) expectations and elevated US Treasury yields weigh on the non-yielding metal.

NZD/USD rebounds on Tuesday, trading around 0.5610 at the time of writing, up 0.42% on the day. The pair recovered some of its recent losses after hitting its lowest level since April 2025 near 0.5580.