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GBP/USD trades with marked gains on Friday, now giving away some gains following an earlier surpass of the key 1.3500 yardstick. Indeed, Cable gathers fresh steam amid the strong offered stance in the Greenback, all after US NFP badly missed expectations in July.
EUR/USD reverses Thursday’s decline and trades with solid gains in the 1.1560 region, or two-month peaks, on Friday. The pair’s firm performance comes in a context of a sharp correction in the US Dollar as investors continue to assess disheartening US NFP readings.
Gold is retreating toward $4,300 early Monday, moving away from seven-week highs amid renewed tensions over the reopening of the Strait of Hormuz, reviving inflation concerns ahead of Wednesday's US CPI test. However, the downside could be limited after weak US NFP data tempered Fed rate hike bets.
US inflation data to guide Fed rate hike expectations. A hawkish BoJ summary of opinions could support the Yen. RBA could still sound hawkish amid sticky inflation. UK GDP and activity figures to shape sterling sentiment.
