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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
GBP/USD clings to modest gains above 1.3200 on Friday after closing in positive territory on Thursday. Still, the cautious market mood makes it difficult for the pair to gather bullish momentum as investors remain focused on US-Iran conflict and the volaility surrounding global technology shares.
EUR/USD builds on Thursday's moderate recovery gains and advances to the 1.1400 area on Friday. The US Dollar (USD) struggles to find demand and helps the pair edge higher as investors keep a close eye on headlines coming out of the Middle East and the action in global technology stocks.
Gold moves sideways in a tight channel above $4,000 after posting modest gains on Thursday. Nevertheless, the precious metal finds it difficult to gather bullish momentum as markets grow increasingly convinced about a hawkish Federal Reserve policy outlook.
Ripple (XRP) trades near the key psychological support level of $1 after losing more than 8% so far this week. CoinGlass liquidation data shows that over 97% XRP long positions were wiped out over the past 24 hours. In addition, derivatives metrics continue to favor the bears.
The AI boom is not weakening. The market is simply becoming less willing to reward companies for writing ever-larger infrastructure cheques without a clearer cash-return timetable. Microsoft, Amazon, Alphabet and Meta are becoming the financing arm of the AI cycle, while chips, memory, networking and power infrastructure increasingly look like the early cash beneficiaries.
The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.
