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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 extends the advance above 1.3500 in the European trading hours on Friday. The US Dollar drops against the British Pound as cooler-than-expected US consumer and producer inflation data have limited the Fed's room for further interest rate hikes. Traders will keep an eye on the US July Retail Sales report and the Consumer Sentiment data later this Friday.
EUR/USD attracts some follow-through buying in the European session on Friday and builds on the previous day's bounce to near the 1.1550 level. The pair capitalizes on renewed US Dollar weakness, as doubts over a September Fed rate hike offset lingering Middle East concerns. The US Retail Sales and UoM Consumer Sentiment data are in focus later in the day.
Gold recovers slightly from the $4,300 neighborhood heading into the European session, though it remains in negative territory for the second straight day. Moreover, a mixed fundamental backdrop warrants some caution before positioning for an extension of the retracement slide from $4,450, or the highest since June 5, set the previous day.
Bitcoin SV is up nearly 2% extending a steady upward trend over the last two weeks. Retail strength builds in BSV amid multiple vulnerabilities found in the Bitcoin ecosystem. Bitcoin SV’s technical outlook is bullish as the price tests an upside breakout above the 200-day Exponential Moving Average at $15.39.
Imagine somebody repeatedly claiming to have $100,000 in the bank but refusing to produce a statement or even balance the checkbook. The money might be there, but without verification, skepticism would be reasonable.
