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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.
The GBP/USD pair gathers strength to near 1.3495 during the early European trading hours on Friday. The British Pound edges higher against the US Dollar as cooler-than-expected US consumer and producer price data have limited the Federal Reserve's room for further interest rate hikes. Traders will keep an eye on the US July Retail Sales report later on Friday.
EUR/USD attracts some follow-through buying in the European session on Friday and builds on the previous day's bounce to near the 1.1550 level. The pair capitalizes on renewed US Dollar weakness, as doubts over a September Fed rate hike offset lingering Middle East concerns. The US Retail Sales and UoM Consumer Sentiment data are in focus later in the day.
Gold recovers slightly from the $4,300 neighborhood heading into the European session, though it remains in negative territory for the second straight day. Moreover, a mixed fundamental backdrop warrants some caution before positioning for an extension of the retracement slide from $4,450, or the highest since June 5, set the previous day.
Ethereum (ETH) continued to consolidate in the tight $1,800-$2,000 range amid weak signals across key on-chain metrics. ETH Exchange Netflow, which measures the difference between coins flowing in and out of exchanges, indicates mild dominance in selling activity after its 14-day moving average flipped positive.
Imagine somebody repeatedly claiming to have $100,000 in the bank but refusing to produce a statement or even balance the checkbook. The money might be there, but without verification, skepticism would be reasonable.
