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FXStreet Team
FXStreet
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 lost traction and declined toward 1.3150 following a short-lasting recovery attempt to the 1.3200 region in the early European session. The pair trades near its low early in the American session as US PCE inflation data came in line with expectations.
EUR/USD now accelerates its daily recovery, hovering around the 1.1370 region on Thursday. The pair’s rebounds follows some mild loss of momentum of the US Dollar despite results from the PCE and the labour market.
Gold remains on the back foot, trading around $4,000 on Thursday. The commodity sticks to its bearish bias for the third straight day, and remains close to the lowest level since November 2025, touched on Wednesday.
The broader cryptocurrency market remains under intense selling pressure, with Bitcoin back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours.
Bitcoin recovers slightly, trading at $61,700 after reaching a new yearly low of $59,103 and a 21-month low the previous day. This bearish price action is supported by the ongoing institutional sell-off, which recorded an outflow of over $469 million on Wednesday.
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.
