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.
EUR/USD stays in positive territory above 1.1550 in the American session on Wednesday. The data from the US showed that the annual CPI inflation climbed to 4.2% in May. This print came in line with the market expectation and made it difficult for the USD to gather strength.
GBP/USD stays in positive territory slightly above 1.3400 despite pulling away from session highs. The cautious market stance helps the US Dollar limit its losses and cap the pair's upside as investors assess the US inflation data, which showed that the CPI rose 4.2% on a yearly basis in May.
Gold builds on Tuesday’s losses and remains under heavy pressure, gyrating around the $4,150 mark per troy ounce as investors evaluate the latest US CPI data on Wednesday. Meanwhile, developments from the Middle East crisis and the likelihood of a more cautious Fed in the next few months continue to weigh on the yellow metal.
Major crypto assets trade under intense headwinds on Wednesday, as market participants navigate complex geopolitical and macroeconomic environments.
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.
