In the broadcast today: Can the ECB and BoE Surprise EUR and GBP Bulls? Ahead of tomorrow's European Central Bank and Bank of England meetings, we examine the market's expectations for the monetary policy decisions of these two major central banks and explore their potential impact on the EUR and the GBP, we analyze the latest trend developments in the EUR/USD currency pair, we take a look at the GBP/USD pair's attempt for a break below an important support level, we continue to monitor the USD/JPY currency pair, we highlight the market's reaction to the meeting of the Japanese Prime Minister with the Bank of Japan Governor, the U.K. Trade Balance, and the German Industrial Production, we discuss new forecasts from Citigroup, Morgan Stanley, Credit Suisse and Commerzbank, and prepare for the trading session ahead.
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EUR/USD recovers toward 1.0850 as risk mood improves
EUR/USD gains traction and rises toward 1.0850 on Friday. The improvement seen in risk mood makes it difficult for the US Dollar (USD) to preserve its strength and helps the pair erase a portion of its weekly losses.
GBP/USD stabilizes above 1.2700 after downbeat UK Retail Sales-led dip
GBP/USD staged a rebound and stabilized above 1.2700 after dropping to a weekly low below 1.2680 in the early European session in response to the disappointing UK Retail Sales data. The USD struggles to find demand on upbeat risk mood and allows the pair to hold its ground.
Gold rebounds to $2,340 area, stays deep in red for the week
Gold fell nearly 4% in the previous two trading days and touched its weakest level in two weeks below $2,330 on Thursday. As US Treasury bond yields stabilize on Friday, XAU/USD stages a correction toward $2,340 but remains on track to post large weekly losses.
Dogecoin inspiration Kabosu dies, leaving legacy of $22.86 billion market cap meme coin behind
Kabosu, the popular Shiba Inu dog that inspired the logo of the largest meme coin by market capitalization, Dogecoin (DOGE), died early on Friday after losing her fight to leukemia and liver disease.
Week ahead – US PCE inflation and Eurozone CPI data enter the spotlight
Dollar traders lock gaze on core PCE index. Eurozone CPIs in focus as June cut looms. Tokyo CPIs may complicate BoJ’s policy plans. Aussie awaits Australian CPIs and Chinese PMIs.