Author
FXStreet Team
FXStreet
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 EUR/USD pair trades in positive territory near 1.1540 during the early Asian trading hours. Rising bets that the European Central Bank will deliver a rate hike at its June policy meeting later on Thursday underpin the Euro against the Greenback.
The GBP/USD pair gathers strength to around 1.3385 during the Asian trading hours on Thursday. However, the potential upside might be limited amid rising expectations for higher-for-longer US interest rates. Markets might turn cautious later in the day ahead of the US Producer Price Index report.
Gold fades a modest Asian session bounce to the $4,118 region, though it manages to hold above the lowest level since November 2025. A softer Core US Consumer Price Index eased concerns about a runaway inflation spiral, weighing on the US Dollar and prompting some intraday short-covering around the precious metal.
Ripple (XRP) and Stellar (XLM) show mild signs of recovery on Thursday after extending losses earlier this week. XRP is holding above the $1.10 level as bearish momentum begins to fade, while XLM has bounced modestly from a key support zone.
The oil market is no longer trading a clean barrel count. It is trading shadows on a radar screen, tankers running dark, missiles in the air, diplomacy wearing a flak jacket, and every macro desk trying to decide whether the Strait of Hormuz is merely impaired or about to become the fuse that relights the inflation trade.
More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.
