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GBP/USD recovers modestly from multi-month lows, stays below 1.2300
GBP/USD erased a small portion of its daily losses after dropping to a fresh multi-month low below 1.2250 on the Bank of England's dovish surprise. With Wall Street's main indexes trading deep in the red, however, the USD holds its ground and doesn't allow the pair to recover above 1.2300.
EUR/USD holds near 1.0650 following mixed ECB commentary
EUR/USD continues to fluctuate at around 1.0650 in the American session on Thursday. Mixed comments from European Central Bank policymakers on the rate outlook and the cautious market mood doesn't allow the pair to gather recovery momentum.
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Key risks to the global outlook
The most aggressive rate hike cycle in decades will no doubt take its toll. We’re more concerned about the US, where a tightening in lending standards post-banking crisis is likely to trigger more noticeable weakness in hiring and investment. Europe is currently enjoying the benefit of lower energy prices...
Will cooling inflation mark the end of interest rate hikes?
Traders are now on the verge of being gifted with even more lucrative money-making opportunities with Saudi Arabia determined to keep oil prices high enough to fund economic plans – all topped off with the most hotly anticipated event of all – the end of Fed's most aggressive interest rate hiking campaign in four decades.
Eurozone and the US: Where does inflation come from?
According to the latest data, inflation in both the euro area and the US is mainly driven by its core component and thus, at first glance, by demand. Supply factors are also at work through the spillover effects of the shock on energy and commodity prices and food inflation.
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CRYPTO KEYS
Arbitrum receives 2.5 million ARB funding request from Wormhole foundation
Wormhole, a crypto and web3 messaging protocol, has submitted a proposal to encourage users to mint native USDC on the Arbitrum chain. The goal is to attract 100 million USDC and migrate it from other chains to Arbitrum.
Tether increased its secured loans in Q2 despite commitment to reduce lending
Tether Holdings has resumed the lending of its stablecoins in the form of secured loans to clients after announcing that it is set to wind down this practice less than a year ago. The information came to light in the firm’s recent quarterly financial update, according to a report by The Wall Street Journal.
XRP price recovery likely as Ripple executives call out SEC and Chair Gary Gensler for their stance on crypto
XRP price outlook is bullish as the asset tests the supply zone at $0.5174. Pro-XRP attorney John Deaton shared his views on the likelihood of a settlement by the SEC in its lawsuit against Ripple.