The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday.

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.

European stocks may open on a positive note Wednesday, with trading later in the day likely to be influenced by the release of key U.S. CPI data along with other reports on U.S. retail sales and homebuilder confidence.

Indian shares were marginally higher on Wednesday as investors reacted to data showing an unexpected increase in U.S. producer prices and waited for the release of U.S. CPI report later in the day for clues on the Federal Reserve's next steps.

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders react to data showing producer prices in the U.S. increased by more than expected in the month of April, while they cautiously await the release of key consumer price inflation data later in the day. Asian markets closed mixed on Tuesday.

gold prices rebounded strongly on the back of the softening U.S. dollar, while oil prices remained steady.

This Forex Market Report offers an overview of critical economic and financial events that impact the global forex markets. Traders should closely monitor developments to fine-tune their trading strategies accordingly.

Bitcoin fell 2%. Amazon shares rose 1.7%. The Australian dollar gained 0.2%. Gold increased 0.8%. Oil prices fell due to rate concerns. The US dollar eased amid rising producer prices. The Solana mCoin parody GME hit $100 million market cap. Key economic events today include US CPI, US Retail Sales, Eurozone Employment Change, Industrial Production, and Japan's GDP.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Oil is retreating but unlikely to repeat the collapses of 2020, 2014 or 2008

The Japanese yen is experiencing a significant decline against the US dollar, marking the seventh consecutive session of this trend.