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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 on to modest gains above 1.3200 on Friday, building on gains seen in the previous day. Still, Cable struggles to build on its recovery as cautious market sentiment keeps investors focused on the US-Iran conflict and ongoing volatility in global technology stocks.
EUR/USD extends Thursday's recovery and climbs past the 1.1400 yardstick at the end of the week. The pair’s recovery comes as the US Dollar remains on the back foot, while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.
Gold trades in a tight range above $4,000 per troy ounce on Friday, adding to the recent recovery. The precious metal, however, finds it difficult to attract fresh buyers as expectations for a hawkish Fed continue to strengthen.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.
Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.
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.
