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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.
The GBP/USD pair gathers strength to near 1.3495 during the early European trading hours on Friday. The British Pound edges higher against the US Dollar as cooler-than-expected US consumer and producer price data have limited the Federal Reserve's room for further interest rate hikes. Traders will keep an eye on the US July Retail Sales report later on Friday.
The EUR/USD pair attracts some follow-through buyers during the Asian session, and looks to build on the previous day's modest bounce from the vicinity of the 1.1500 psychological mark, or an over one-week low. Spot prices, however, remain confined in a two-week-old range and currently trade below 1.1550 amid mixed cues.
Gold is seen extending the previous day's pullback from the vicinity of the $4,450 level, or the highest since June 5, and drifting lower for the second straight day. The downward trajectory dragged the commodity to a fresh weekly low, closer to the $4,300 mark during the Asian session. Persistent geopolitical uncertainties, to a large extent, offset receding US Federal Reserve rate hike bets and act as a tailwind for the safe-haven US Dollar, which is seen weighing on the commodity.
Ethereum (ETH) continued to consolidate in the tight $1,800-$2,000 range amid weak signals across key on-chain metrics. ETH Exchange Netflow, which measures the difference between coins flowing in and out of exchanges, indicates mild dominance in selling activity after its 14-day moving average flipped positive.
Imagine somebody repeatedly claiming to have $100,000 in the bank but refusing to produce a statement or even balance the checkbook. The money might be there, but without verification, skepticism would be reasonable.
