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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.
GBP/USD trades marginally lower on the day below 1.3300 following a short-lasting recovery attempt in the early European session. The pair finds it difficult to gain traction as the US Dollar stays resilient against its major rivals ahead of the Federal Reserve’s policy decision. Meanwhile, renewed escalation in the Middle East and surging Oil prices weigh on market mood.
EUR/USD oscillates in a narrow range below 1.1400 on Wednesday. The pair struggles to gain traction as the US Dollar benefits from the risk-averse market atmosphere amid a deepening crisis in the Middle East. Investors keenly await the Federal Reserve’s upcoming policy decision for fresh directional impetus.
Gold stays on the back foot midweek and declines toward $4,000 after losing more than 1% on Tuesday. Escalating tensions in the Middle East make it difficult for the precious metal to hold its ground, while investors gear for the Federal Reserve's highly-anticipated interest rate announcement.
Bitcoin, Ethereum and Ripple remain under pressure on Wednesday after a mild correction earlier this week. BTC slips below a key support zone, and ETH is testing a key resistance zone. Meanwhile, XRP is drifting toward the psychologically important $1.00 support level.
