Correction: About the ING NZD/USD market commentary

FXStreet Insights Team FXStreet

(This story was corrected on December 1 at 13:30 GMT as its content was written ahead of the Reserve Bank of New Zealand monetary policy announcement. The content was published after the data release, making it outdated from the moment of its publication. The story shouldn't have been published.)

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD advances to fresh monthly high above 1.3550

GBP/USD gains traction in the American session and trades at its highest level in a month at around 1.3550 on its way to a positive weekly closing. The US Dollar remains under pressure following the disappointing Retail Sales data and helps the pair push higher.

EUR/USD climbs toward 1.1550 on renewed USD weakness

EUR/USD gathers bullish momentum on Friday and trades in positive territory above 1.1500. The US Dollar weakens heading into the weekend as markets continues to scale back bets for a rate hike in September following the disappointing July Retail Sales data.

Gold regains its traction, rises toward $4,400

Gold stages a rebound after coming in within a touching distance of $4,300 earlier in the day and closes in on $4,400. Easing expectations for a Fed interest rate hike in September helps the precious metal find demand heading into the weekend. Meanwhile, weak Retail Sales data from the US puts additional weight on the USD's shoulders.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

UoM Consumer Sentiment Index set to ease as inflation, labour market worries loom

The University of Michigan will release the preliminary estimate of August’s Consumer Sentiment Index on Friday. US consumers’ confidence is expected to have ticked down to 54.5 in August from 55.2 in July, as measured by the UoM Consumer Sentiment Index.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.