The dollar remains at the back foot in mid-European and beginning of US session, holding broadly lower from fresh highs, posted on late Tuesday’s trading.
The dollar index holds just above session low at 98.40, following pullback from Tuesday’s high at 99.08, the highest level since early February.

Weaker dollar keeps the Euro stable above 1.09 handle, which was cleared in early European rally. The single currency was up 0.41% from today’s opening, but still holding below strong resistance at 1.0953.
Sterling was among the top gainers in early Wednesday’s trading, up 0.32% from the start of today’s trading, enjoying support from diminishing expectations of BOE’s rate cut next week.

The greenback remains in neutral near-term mode against Japanese yen and consolidating within narrow range above 104.00 handle, following Tuesday’s short-lived rally to fresh high at 104.86.
Quick reversal that generated strong negative signal, so far did not impact the pair significantly, as 104.00 support for now holds near-term action. The pair ended Tuesday’s trading almost flat, after daily rally of almost 80 pips and failing again to generate stronger bullish signals on close above important technical barrier at 104.43. All these signal that series of tough resistances are not going to give up easily and the downside would remain vulnerable in coming sessions.

Aussie dollar pared a part of strong gains overnight that peaked at 0.7708, marking total gains of 0.86% since opening. Subsequent pullback found temporary footstep above significant support at 0.7660 zone and so far maintaining bullish setup for renewed attempts higher.
Lower dollar kept tone of gold firm, as the yellow metal rallied strongly on Tuesday, up 1.25% for the day and making the strongest one-day gains after 21 Sep rally on extension to fresh recovery high at $1276.
Gold trades within $1270/76 range on Wednesday, keeping focus at the upside for renewed attempts above $1276 high, towards next target at $1280.

Crude oil remains at the back foot on Wednesday, driven by renewed concerns of global oversupply. Today’s extension of Tuesday’s strong fall cracked important technical support at $49.14, raising fears of further easing on sustained break lower. Oil is eyeing today’s weekly crude inventories support for fresh direction, after last week’s surprise draw of crude stocks sent oil price to new 15-month high at $52.21. Forecast for today shows expectations for 1.6 million barrels build of crude stocks, compared to last week’s 5.2 million barrels draw.

European stocks maintained negative sentiment from US on Tuesday and Asian session today and accelerated sharply lower.

German DAX was 1.26% down in Europe; FTSE100 fell 1.18%, while French CAC40 dipped by 0.75%.
Wall Street followed negative stance and opened lower on Wednesday, after disappointing quarterly report from Apple on Tuesday that soured the sentiment. Apple was down 2.8% in pre market trading, after sales of its flagship iPhones fell for the third consecutive quarter.

Apple shares opened with large gap-lower on Wednesday, opening 5.07% lower from Tuesday’s close.

Dow Jones was 0.48% down after Wall Street opening; Nasdaq was down 0.51% and S&P500 was lower by 0.38% after opening bell.

Movement on Wall Street has largely been dictated by corporate earnings in the past few weeks, but events such as the Nov. 8 U.S. presidential election and the Federal Reserve’s policy meet next week have added volatility. Wall Street closed lower on Tuesday, after a set of housing and consumer products companies reported weak results and forecasts., Market Analysis