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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.
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.
SharpLink Gaming announced plans to stake $200 million in Ethereum through Lido as part of its strategy to generate returns from its ETH treasury, according to a Thursday announcement. The allocation will be converted into wrapped staked ETH, which represents staked Ethereum and the associated staking rewards.
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.
