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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 is recovering above 1.3450 in the European session on Wednesday. Traders await the Fed Minutes for fresh trading impetus as renewed Middle East tensions fail to offer any inspiration to the US Dollar.
EUR/USD comes under bearish pressure in the European session and declines toward 1.1400. US President Trump said the MoU signed with Iran to end the conflict was "over" and added that the didn't want to engage with Tehran anymore, triggering a flight-to-safety and boosting the USD.
Gold is fading in the tepid rebound above $4,100 early Wednesday, having reversed a part of the previous sell-off. Traders eagerly await the Minutes of the US Federal Reserve June monetary policy meeting, due later in the day, for fresh trading impetus.
Pi Network (PI) price edges toward $0.1000 extending losses for the fifth straight day. Retail sentiment remains bearish as Open Interest and the funding rate decline. The technical outlook for PI is bearish as selling pressure mounts, despite oversold conditions.
Bitcoin extends its correction, trading below $63,000 after failing to overcome the $64,000 resistance level. The renewed tensions in the Middle East have dampened risk appetite, weighing on BTC prices. Meanwhile, a sharp contraction in the stablecoin market in June signals reduced liquidity and weaker buying power in the crypto market.
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.
