United Kingdom CFTC GBP NC Net Positions increased to £44.3K from previous £29.4K

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FXStreet Team

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 clings to moderate gains above 1.3400

EUR/USD holds steady above 1.1400 after US data

Gold recovers above $4,050 following an earlier decline

Crypto Today: Bitcoin, Ethereum, XRP stall after US CPI-driven mild rally

The cryptocurrency market pauses on Wednesday, following a brief, macro-driven rally the previous day. Bitcoin (BTC) is consolidating above $64,500, signaling waning bullish momentum and increased profit-taking as sellers emerge.

BoC expected to keep interest rates unchanged as inflation pressures remain contained

The Bank of Canada (BoC) is widely expected to keep its policy rate unchanged at 2.25% on Wednesday. This would be the sixth consecutive event with the central bank keeping its hand steady. The BoC left its policy rate unchanged at 2.25% last month, as widely anticipated.

-0.4%: Why the biggest CPI drop since 2020 couldn't buy back a single cut

The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.