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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 holds the bounce above 1.3350 in the European session on Thursday. The Bank of England decided to maintain the benchmark rate unchanged at 3.75%. The MPC voted 6-3 in favor of keeping rates on hold, with the 3 dissenters favoring a rate hike.
EUR/USD recovered its bullish poise in the European session on Thursday, helped by the better-than-expected German and Eurozone GDP data and renewed US Dollar weakness. Traders now brace for preliminary readings of the second-quarter GDP from the US.
Gold hovers around its daily open ahead of the U.S. open on Thursday, trimming early losses. The Greenback enjoyed some near-term demand following Wednesday's post-FOMC downfall, but was unable to retain its gains. Market players now waiting for US Q2 GDP.
Ripple and Stellar are trading at critical technical levels on Thursday. XRP has stabilized above the psychological $1.00 support, while XLM is testing support at $0.173. Traders should be cautious as mixed derivatives metrics keep the outlook uncertain for both altcoins. Derivatives data shows mixed sentiment among traders. CoinGlass’ long-to-short ratio for XRP reads 1.02 on Thursday.
