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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 accelerates its advance and surpasses the key 1.3400 barrier on Wednesday. That said, Cable clinches new multi-week tops on the back of the resurgence of the selling interest in the Greenback despite persistent tensions in the Middle East.
EUR/USD trades with decent gains north of the 1.1400 hurdle in the latter part of Wednesday’s NA session. The fresh offered stance in the US Dollar allowed the pair to revert the initial drop and refocus on the upside despite the hawkish tone from the FOMC Minutes and persistent geopolitical tensions.
Gold trades with a positive bias during the Asian session on Thursday and looks to build on the overnight bounce from $4,020, or a one-week low. Minutes of the June FOMC meeting showed an evenly divided debate over the monetary policy outlook and failed to impress the US Dollar bulls, which is seen supporting the bullion. However, fresh US-Iran tensions trigger a sharp recovery in Oil prices, reviving inflationary concerns and reinforcing bets for at least one Fed rate hike in 2026. This should cap the non-yielding yellow metal.
Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.
