Forex Today: Brexit steals the show, again

FXStreet Team FXStreet

Here is what you need to know Thursday, October 17th:

Brexit-related headlines gathered all of the market’s attention this Wednesday. Hopes mount that there will be some sort of agreement to discuss Thursday in the EU Summit. DUP still unconvinced according to the latest market talks, although French President Macron said that a Brexit agreement was being finalized, later reinforced by comments from German Chancellor Angela Merkel, who said that Brexit talks are now in the “final meters.”GBP/USD soared to 1.2877 its highest in seven months.
The EUR/USD pair continued trading in a dull fashion throughout the first half of the day, but poor US Retail Sales, some trade-war optimism and Brexit headlines pushed it to new four-week highs in the 1.1080 price zone.
Equities failed to attract investors, trading uneventfully around their opening levels ahead of clearer news. Optimism was offset by poor US data.
Cryptocurrencies remained under selling pressure BTC lost the 8,000.00 threshold.

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FXStreet Team

FXStreet

EUR/USD off highs, back to 1.1850

EUR/USD loses some upside momentum, returning to the 1.1850 region amid humble losses. The pair’s slight decline comes against the backdrop of a marginal advance in the US Dollar as investors continue to assess the latest US CPI readings.

GBP/USD advances to daily tops around 1.3650

GBP/USD now manages to pick up extra pace, clinching daily highs around 1.3650 and leaving behind three consecutive daily pullbacks on Friday. Cable’s improved sentiment comes on the back of the inconclusive price action of the Greenback, while recent hawkish comments from the BoE’s Pill also collaborates with the uptick.

Gold surpasses $5,000/oz, daily highs

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The yellow metal’s upside is also propped up by the lack of clear direction around the US Dollar post-US CPI release.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.