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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 inches lower after opening at a bullish gap, trading around 1.3200 during the Asian hours on Monday. The pair loses ground as the Pound Sterling declines against the US Dollar amid emerging safe-haven demand, which could be attributed to the United States-Iran talks uncertainty.
The EUR/USD pair holds steady near 1.1385 during the early European trading hours. Traders continue to assess the developments surrounding talks to end the US war with Iran. The European Central Bank's annual forum and the US June employment data will be the highlights later this week.
Gold price pares daily losses, remaining in the negative territory and trading around $4,070 during the Asian hours. The price of the yellow metal struggles as military clashes between the United States and Iran in the strategic Strait of Hormuz have pushed oil prices higher and reignited fears of inflation.
Bitcoin, Ethereum and Ripple are showing early signs of stabilization after a correction of nearly 6%, 8% and 7% respectively, over the previous week. BTC reclaims $60,000, ETH is holding firmly above the critical $1,500 support level, while XRP is also attempting to stabilize around the key $1.00 psychological level.
Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.
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.
