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EUR/USD trades in positive territory near 1.1550 in Thursday's European trading hours. Rising bets that the European Central Bank will deliver a rate hike after its June policy meeting, keeping the Euro underpinned against the US Dollar. The focus will be on the ECB's updated projections and Lagarde's words.
GBP/USD is consolidating the rebound below 1.3400 in the European session on Thursday. However, the upside potential appears limited amid increased hawkish Fed bets and looming Mideast geopolitical risks, which could limit the US Dollar's pullback ahead of US PPI data.
Gold fades a modest Asian session bounce to the $4,118 region, though it manages to hold above the lowest level since November 2025. A softer Core US Consumer Price Index eased concerns about a runaway inflation spiral, weighing on the US Dollar and prompting some intraday short-covering around the precious metal.
Ripple (XRP) and Stellar (XLM) show mild signs of recovery on Thursday after extending losses earlier this week. XRP is holding above the $1.10 level as bearish momentum begins to fade, while XLM has bounced modestly from a key support zone.
The European Central Bank is set to announce its monetary policy decision at 12:15 GMT following its June meeting. The Frankfurt-based institution is widely expected to raise its key interest rates by 25 basis points, taking the deposit facility rate to 2.25% from 2%.
May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.
