FOREX TODAY: BEFORE US INFLATION, CENTRAL BANK SPEECHES MIGHT INFLUENCE THE MARKET.

What you need know on Wednesday, January 10 is as follows:

Tuesday saw the US Dollar (USD) strengthen versus its competitors as markets became more cautious ahead of Thursday's much awaited inflation report. Major currency pairs remain rather calm early on Wednesday. The 10-year US Treasury note auction later in the day and remarks made by central bankers may have an effect on the value of currencies.

US dollar exchange rate for this week

The US dollar's (USD) percentage movement compared to a list of major currencies for this week is displayed in the table below. When compared to the Australian dollar, the US dollar was the strongest.

The major currencies' percentage movements relative to one another are displayed on the heat map. The quotation currency is selected from the top row, and the base currency is selected from the left column. For example, the percentage change shown in the box will indicate EUR (base)/JPY (quote) if you select the Euro from the left column and proceed along the horizontal line to the Japanese Yen.

Wall Street began Tuesday's trading session down. An increase in Middle East geopolitical unrest led investors to steer clear of riskier investments. The worst attack on commercial merchant vessels in the Red Sea to date was carried out by Houthi terrorists backed by Iran, according to a late-night report by CNBC News, which cited a senior US Defense Department official. US market index futures trade slightly lower in the European morning on Wednesday, despite stock indices were able to partially reverse earlier conclusion of the session. USD Index continues to rise above 102.50 and the US Treasury bonds, the 10-year, remains stable at just over 4%. John Williams, the president of the Federal Reserve (Fed) in New York, who stated in December were not being discussed, would give a speech during the late American session. Early on Wednesday, Australian data revealed that the Consumer Price Index (CPI) increased 4.3% annually in November. This number was somewhat below the 4.4% market consensus and follows the 4.9% growth noted in October. AUD/USD moved somewhat higher during Asian trading hours after closing far below zero. It was last seen trading at roughly 0.6700.

After peaking above 1.2750 on Tuesday, the GBP/USD pair experienced daily losses before losing momentum. The pair continues to be weak and trades below 1.2700 on Wednesday during the early European session. Later in the day, Bank of England Governor Andrew Bailey will testify and risk that represent the financial stability.

After failing to make a clear move on Monday, the EUR/USD pair slightly declined on Tuesday. When last observed, the pair was trading below 1.0950. On Wednesday during European trade hours, Vice-President Luis de Guindos of the European Central Bank (ECB) is expected to give a speech.

After erratic trading on Tuesday, USD/JPY gained positive momentum and surged beyond 145.00 on Wednesday. Labor Cash Earnings increased by just 0.2% annually in November, according to statistics from Japan that was released earlier in the day. This number was much below the 1.5% market that came in after the 1.5% increase noted in October.

After rising above $2,040, gold reversed course and ended. XAU/USD trades in the red early on Wednesday, little above $2,020, and is still under mild negative pressure.