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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.
The GBP/USD pair recovers some lost ground to near 1.3325, snapping the five-day losing streak during the Asian trading hours on Friday. However, the potential upside might be limited amid heightened military tensions in the Middle East. Traders brace for the release of the UK Retail Sales data, which will be published later on Friday.
EUR/USD gains ground after posting modest losses in the previous day, trading around 1.1380 during the Asian hours on Friday. However, the potential upside for the pair could be limited as the US Dollar may regain strength, largely driven by escalating conflicts in the Middle East that threaten to push crude oil prices higher.
Gold licks wounds near $4,050 in Asia on Friday, holding the previous day's heavy losses amid rising expectations of a Fed rate hike, bolstered by energy-driven inflation concerns. Moreover, the US-Iran standoff and US President Donald Trump's new tariffs keep the US Dollar's reserve-currency status alive, which continues to weigh on the bullion ahead of global flash PMIs.
Ethereum is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest. The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.
