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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 is rebounding toward 1.3250 in the European session on Monday. The pair recovers ground as the US Dollar uptrend falters and traders resort to profit-taking ahead of Tuesday's US-Iran peace talks and Fed Chair Kevin Warsh's appearance on Wednesday at the ECB Forum.
EUR/USD is attempting a tepid bounce above 1.1400 in European trading on Monday, helped by a broadly weaker US Dollar. Traders continue to assess the developments surrounding talks to end the US war with Iran. The European Central Bank's annual forum and the US June employment data will be the highlights later this week.
Gold price remains in the negative territory around $4,050 in Monday's European trading. The bullion struggles as military clashes between the United States and Iran in the strategic Strait of Hormuz have revived inflation concerns, bolstering Fed rate hike expectations. However, a broad US Dollar retreat is helping limit Gold's downside.
Pi Network price edges lower on Monday, threatening a steeper correction below the all-time low of $0.1184 recorded on June 6. The negative funding rate reaffirms the sell-side dominance as the Pi2Day excitement fades. From a technical perspective, PI continues its bearish spiral, with downside momentum gaining traction despite oversold warnings.
The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.
