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FXStreet Team
FXStreet
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.
The GBP/USD pair gathers strength near 1.3645 during the early Asian trading hours. The US Dollar softens against the British Pound amid fading Federal Reserve rate hike expectations. Traders brace for the UK Retail Sales data for July, which will be published later on Friday.
The EUR/USD pair attracts some dip-buyers during the Asian session, and climbs back closer to its highest level since May 14, with bulls now awaiting a move beyond the 1.1700 mark before placing fresh bets. Nevertheless, spot prices remain on track to register strong weekly gains and prolong the month-to-date uptrend amid a broadly weaker US Dollar.
Gold hits a fresh high since early June, around the $4,544 region, during the Asian session on Friday and looks to build on the momentum above a technically significant 200-day Simple Moving Average.
The United States is closing in on a milestone that would have been almost unimaginable not long ago: $40 trillion in national debt. That staggering figure framed the latest episode of the Money Metals Midweek Memo, as host Mike Maharrey examined what he calls the economy’s “debt black hole” and zeroed in on a relatively obscure corner of the financial system that could become a much bigger problem: the $1.4 trillion private credit market.
The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.
