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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 stalls its rebound and stays below 1.3400 in the European trading hours on Thursday. The pair's upside remains capped by a modest US Dollar bounce and cooler-than-expected UK inflation data amid escalating Middle East tensions.
EUR/USD holds its upbeat momentum for the second consecutive day, above 1.1400, in the European session on Thursday. The pair stays supported ahead of the European Central Bank's interest rate decision, with any hints on further rate hikes to be closely eyed.
Gold holds the pullback near the $4,100 round figure in Thursday's European session. US crude oil prices climb to a fresh six-week high toward $90 amid a further escalation of tensions between the US and Iran, fueling inflation fears and bolstering US Fed interest rate hike expectations. Hawkish Fed bets weigh negatively on the yieldless bullion.
The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure and traditional finance, according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.
Bitcoin extends its correction, trading below $65,800 after a modest decline in the previous day. Despite BTC’s fading strength, US-listed spot Bitcoin Exchange Traded Funds continued to attract institutional inflows on Wednesday, marking the seventh consecutive day of gains.
