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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 leaves behind part of the recent three-day retracement and hovers around the 1.3550 region on Monday. The Greenback’s fresh downward trend helps Cable recoup part of the recent ground lost while attention remains on the potential Fed rate path.
EUR/USD is partially trimming Friday’s severe pulback and is managing to flirt with the key 1.1600 barrier at the beginning of the week. The pair’s rebound follows a modest selling pressure on the US Dollar as investors assess the likelihood of a Fed rate hike in September.
Gold adds to Friday’s maked decline, briefly falling to the sub-$4,400 region per troy ounce on Monday. The yellow metal’s pullback comes despite the softer stance in the US Dollar and steady uncertainty in the Middle East, although rising yields keep bulls at bay for now.
Bitcoin remains resilient above $78,000 as investors anticipate a renewed push toward $80,000. Ethereum continues to demonstrate a constructive technical setup, holding above $2,400. Ripple is exhibiting early signs of recovery near $1.37.
The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.
