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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 faces renewed selling pressure, eroding the earlier advance and confronting the key 1.3500 level on Wednesday. The lack of follow through in Cable’s initial move higher comes in response to the resurgence of the demand for the Greenback amid steady geopolitical tensions.
EUR/USD now trades with marginal losses, receding toward the 1.1530 region on Wednesday. The pair’s slight pullback comes amid the now better tone in the US Dollar, as investors seem to have fully digested the latest US inflation data. The fragile landscape in the Middle East, in the meantime, is also expected to keep limiting the downside potential of the buck for now.
Gold now gives away part of its earlier advance to the vicinity of the $4,450 mark per troy ounce and approaches the $4,400 hurdle on Wednesday. The yellow metal’s partial loss of momentum follows the US Dollar’s recovery attempt after the CPI-led pullback.
Ripple is trading within a broadly constrained technical structure, with support at $1.00 and key moving averages limiting its recovery potential. In August, the remittance token declined by approximately 6.5%, extending its total pullback to around 14% from July's $1.18 peak.
The most heavily trailed supply event of the year landed on August 6, and the SpaceX (SPCX) stock went up. Roughly 911.5 million shares held by insiders and early backers became eligible to trade, around 43% more than the entire float sold at the listing.
