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GBP/USD is consolidating in Friday's European trading after facing rejection at 1.3600 earlier on. Traders remain on the sidelines and refrain from placing fresh bets on the major ahead of the critical US Nonfarm Payrolls benchmark revision and Fed Chair Warsh's debut at the Jackson Hole Symposium. Both events could ramp up market volatility.
EUR/USD is treading water at around 1.1650 in the European session on Friday. The pair faces headwinds as the US Dollar clings to its recent recovery ahead of the US Nonfarm Payrolls benchmark revision and Fed Chair Warsh's Jackson Hole speech. However, the downside appears cushioned by hawkish ECB expectations.
Gold extends its gains for the second successive day, trading around $4,610 during the European hours. The price of the precious metal is remaining within the ascending channel pattern, suggesting a persistent bullish bias. The XAU/USD pair is retaining a constructive bullish bias as spot holds above both the nine-period and 50-period EMAs, keeping the short- and medium-term trends aligned to the upside.
Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September. The Jackson Hole symposium, held from August 27 to 29, has the official theme “Financial Innovation: Implications for Payments and Policy.”
Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.
