Wednesday Watchlist: NVIDIA Reports, PMIs Unfold, and Oil's Uncertain Path

Now, what's the buzz in the currency markets? We're currently witnessing a correction in the American dollar. But if we roll back 24 hours, Tuesday wasn't too kind to the Euro and the British pound. In contrast, it was a cause for celebration for currencies like the New Zealand dollar, Japanese yen, and the Australian dollar. The American dollar, not one to be left behind, also made considerable strides upwards. But, as Wednesday unfolds, it seems to be retracing some of its gains.

Let's delve deeper into the currency pairs. EURUSD, for one, wasn't in the best shape yesterday, registering new monthly lows. Meanwhile, the USDJPY is finding its footing comfortably above the 145 horizontal support.

Switching our focus to indices - it was indeed a tale of two cities. The Dow Jones and S&P 500 didn't have much to cheer about, but their counterparts, NASDAQ and DAX, not only had a good Tuesday but are also showing upward momentum today. The resurgence of DAX is particularly noteworthy as it tries to assert dominance above 15,700 points.

And lastly, for the commodities enthusiasts: silver is enjoying its time under the sun, while oil, unfortunately, is wading through rougher waters. After a series of bearish movements kickstarted by Monday's shooting stars on both WTI and Brent, oil prices are currently stationed below some crucial horizontal resistances. With Tuesday echoing the bearish sentiment, the mid-term outlook for oil looks anything but rosy.