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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 struggles to find its footing and edges lower in the European session, pressured by the renewed USD strength. US President Donald Trump said on the MoU signed with Iran to end the conflict was "over", causing safe-haven flows to dominate the action in financial markets and boosting. Later in the American session, the Fed will publish the minutes of the June policy meeting.
EUR/USD comes under bearish pressure in the European session and declines toward 1.1400. US President Trump said the MoU signed with Iran to end the conflict was "over" and added that the didn't want to engage with Tehran anymore, triggering a flight-to-safety and boosting the USD.
Gold turns south in the European session on Wednesday and trades deep in negative territory below $4,100. Investors adopt a cautious stance after US President Trump said at the NATO summit that the MoU signed with Iran to end the conflict was "over" and added he didn't want to engage with Tehran.
Pi Network (PI) price edges toward $0.1000 extending losses for the fifth straight day. Retail sentiment remains bearish as Open Interest and the funding rate decline. The technical outlook for PI is bearish as selling pressure mounts, despite oversold conditions.
West Texas Intermediate (WTI) soars 3.2% to near $74.30 during the European trading session, the highest level seen in two weeks. The oil price surges as the confirmation, from the US President Donald Trump that the MoU with Iran is over, has revived risks of global energy supply disruption.
Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.
