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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.
GBP/USD peaked just above 1.3400 following the BoE's announcement. The Bank of England decided to maintain the benchmark rate unchanged at 3.75%. The MPC voted 6-3 to keep rates on hold, with the 3 dissenters favoring a rate hike. US Q2 GDP missing expectations helps maintain the pair afloat.
EUR/USD trimmed early losses and aims north in the American session on Thursday, helped by better-than-expected German and Eurozone GDP data and lower-than-anticipated US growth, according to the preliminary estimate of Q2 Gross Domestic Product. The economy expanded at an annual rate of 1.5% vs the 2.1% anticipated by market participants.
Gold hovers around its daily open in the American session on Thursday, trimming early losses. The Greenback enjoyed some near-term demand following Wednesday's post-FOMC downfall, but was unable to retain its gains. The preliminary estimate of the US Q2 GDP showed the economy grew n annual rate of 1.5%, missing market's expectations of 2.1%
Bank of England (BoE) Governor Andrew Bailey explains the decision to maintain the bank rate at 3.75% in a 6-3 vote split following the July monetary policy meeting and responds to questions from the press. Follow here the press conference.
