Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD holds above 1.3350 with the 200-day SMA capping gains

The British Pound appreciates against the US Dollar on Tuesday to trim previous losses and return to the 1.3375 area, aiming to retest resistance at the key 200-day Simple Moving Average. This is a popular indicator, which lies a few pips below 1.3400 and has been capping Pound’s recovery over the last two weeks.

EUR/USD gathers strength above 1.1400 after soft US inflation data

The EUR/USD pair gains ground to near 1.1425 during the early Asian trading hours on Wednesday. The US Dollar weakens against the Euro as softer-than-expected US inflation data temporarily eased pressure on the Federal Reserve. Traders will take more cues from the US Producer Price Index report, which is due on Wednesday.

Gold bulls seem hesitant near $4,050 as Iran risks support USD despite reduced Fed hike bets

Gold steadies following the previous day's late pullback from $4,100 as reduced bets for a Fed rate hike keep the US Dollar on the back foot and support the non-yielding bullion. However, escalating US-Iran tensions keep the geopolitical risk premium in play and help the USD to hold above a multi-week low, touched after softer US consumer inflation figures on Tuesday. This acts as a headwind for the precious metal, warranting caution for aggressive bulls.

Ethereum climbs 7% amid declining inflation, weak retail and whale participation

Ethereum jumped more than 7% above $1,850 on Tuesday following a weaker-than-expected US Consumer Price Index report for June. The inflation data fell to 3.5% below expectations of 3.8%, marking a month-on-month decline of 0.4%, its largest monthly drop since May 2020. Core CPI also fell to 2.6% below forecasts of 2.8%.

Fed Chair Warsh reaffirms they will deliver price stability

While testifying on the Semiannual Monetary Policy Report before the US House Financial Services Committee, Fed Chairman Kevin Warsh reiterated that the Fed is making a commitment on price stability and the goal of 2% inflation.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June FOMC meeting landed mid-round-trip, describing a world that had already stopped existing.