Gold price slightly rebounded from the previous session lows. The yellow metal plunged more than 3% and closed to near $1800 on Tuesday. Moving ahead to the North American session, the gold investors and traders will keep an eye on the US GDP and durable goods data due later in the session.
EURO rebounded from the previous session lows supported by the weaker US dollar and strong GDP data. The GDP grew by 8.5% in the last quarter, compared to a preliminary estimate of 8.2%.
The British pound climbed to fresh month high following the positive comments from UK finance minister Rishi Sunak. He said that a Brexit deal was still possible, and he also pledged to refrain from austerity measures in the next budget. Meanwhile, the U.K. signed an interim trade deal with Canada on Saturday, the deal with Canada locks in existing trading rules that cover 20 billion pounds ($27 billion) of trade between the two countries.
UK and Australia posted a strong retail sales report on Friday. ONS report showed the UK retail sales rose 1.2% on the month in October, down from 1.5% growth in September while online sales jumped by 52.8% and store sales were down by 3.3%. On the other hand, the retail sales in Australia increased by 1.6% in October, the Australian Bureau of Statistics has reported.
NVIDIA (NASDAQ: NVDA) Q3 earnings exceeded Wall Street estimates. "NVIDIA is firing on all cylinders, achieving record revenues in gaming, data center and overall," CEO, Jensen Huang said.