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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 retreats after reaching a three-week high above 1.3430 and puts the 1.3400 region to the test on Thursday. Although easing political uncertainty in the UK helps the quid limit its downside, escalating tensions in the Middle East support the Greenback, keeping Cable under scrutiny.
EUR/USD loses momentum after briefly climbing to the 1.1450 area earlier in the day, revisiting the 1.1430 region on Thursday. Escalating tensions in the Middle East fail to underpin the US Dollar, although a broad sense of caution continues to prevail among market participants.
Gold manages to stage a rebound and clings to modest daily gains near $4,100 following a three-day slide. With Middle East hostilities reviving fears of high global inflation, which could cause major central banks to refrain from easing monetary conditions, XAU/USD finds it difficult to gather momentum.
Bitcoin trades at $63,000 on Thursday, recovering slightly after facing rejection near $64,000. Renewed geopolitical uncertainty has dampened risk appetite, limiting BTC upside potential.
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.
