The Euro (EUR) extends losses against the Dollar (USD) for the second consecutive day on Wednesday, trading below 1.1700 at the time of writing after rejection at 1.1790 on Tuesday.

Germany 30-y Bond Auction: 3.62% vs 3.57%

The Australian Dollar (AUD) trades higher against its major currency peers, flattening against the US Dollar (USD) around 0.7240, during the European trading session on Wednesday.

The New Zealand Dollar (NZD) is showing the weakest performance of the G8 currencies on Wednesday, heading lower for the second consecutive day against a stronger US Dollar (USD), with NZD/USD bears testing the bottom of the weekly range at 0.5930 at the time of writing.

The Eurozone industrial sector activity rises steadily by 0.2% in March, slower than 0.3% estimates, according to data published by Eurostat. February’s Industrial Production data was revised lower from 0.4%.

Eurozone Employment Change (QoQ) in line with forecasts (0.1%) in 1Q

Eurozone Industrial Production w.d.a. (YoY) below forecasts (-1.7%) in March: Actual (-2.1%)

Eurozone Employment Change (YoY) down to 0.5% in 1Q from previous 0.7%

Eurozone Industrial Production s.a. (MoM) below expectations (0.3%) in March: Actual (0.2%)

Eurozone Employment Change (QoQ) came in at 0.2%, above expectations (0.1%) in 1Q

Societe Generale strategists observe that GBP/USD (Cable) selling has stalled as UK political uncertainty persists, with Prime Minister Starmer facing a potential leadership challenge.

UOB strategists Quek Ser Leang and Lee Sue Ann note USD/JPY remains underpinned after a volatile session that saw a spike to 157.76 and a brief drop to 157.04 before closing at 157.61. Intraday, the pair could edge higher but is expected to stay below 157.95.

The US Dollar (USD) maintains its immediate bullish trend against the Swiss Franc (CHF) intact for now, with the pair standing comfortably above 0.7800, after bouncing at lows near 0.7760 last week.

ING’s Chris Turner highlights that EUR/USD three‑month implied volatility trades well below realised and near the lower end of its five‑year range, pointing to a range‑bound environment.

Here is what you need to know on Wednesday, May 13:

Danske Research Team highlights that EUR/GBP moved higher as United Kingdom (UK) political uncertainty intensified. Over 90 MPs called for Prime Minister Starmer to resign and several ministers and aides stepped down.

The EUR/GBP cross loses momentum to near 0.8660 during the early European trading hours on Wednesday. The Euro (EUR) weakens against the British Pound (GBP) due to fears over the Eurozone's economic exposure to energy shocks from the Middle East and stalled US-Iran peace negotiations.

The US Dollar (USD) is practically flat against the Canadian Dollar (CAD) on Wednesday, hovering at a short distance from the four-week high, at 1.3724.

France Consumer Price Index (EU norm) (YoY) meets forecasts (2.5%) in April

France Consumer Price Index (EU norm) (MoM) meets forecasts (1.2%) in April

The Japanese Yen (JPY) trades lower against the US Dollar (USD) during the European trading session on Wednesday, with the USD/JPY pair edging higher to near 157.70.

The GBP/USD pair trades on a positive note around 1.3550 during the early European trading hours on Wednesday.

Commerzbank strategists note that USD/INR climbed to a new record high as elevated global Oil prices and firm domestic Dollar demand from importers weigh on the Indian currency.

The AUD/USD pair struggles to capitalize on the overnight bounce from the 0.7200 neighborhood and trades with a negative bias for the second straight day on Wednesday.

The Indian Rupee (INR) exhibits mild strength against the US Dollar (USD) in the opening session on Wednesday. The USD/INR pair trades mildly lower to near 95.60 as the Indian Rupee gains, following the increase in import duty on Gold and Silver to 15% from 6% by the Indian government.

The EUR/USD pair is seen consolidating the previous day's heavy losses and oscillating in a narrow band, below mid-1.1700s, during the Asian session on Wednesday.

EUR/JPY remains flat after registering modest losses in the previous day, trading around 185.00 during the Asian hours on Wednesday.

The AUD/JPY cross holds steady near 114.10 during the early European session on Wednesday. Traders prefer to wait on the sidelines ahead of the meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing on Thursday and Friday.

NZD/USD extends its losses for the second successive day, trading around 0.5940 during the Asian hours on Wednesday.

The GBP/USD pair struggles to capitalize on the previous day's late bounce from the 1.3500 psychological mark, or a nearly two-week low, and oscillates in a narrow band during the Asian session on Wednesday.