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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 inches lower after opening at a bullish gap, trading around 1.3200 during the Asian hours on Monday. The pair loses ground as the Pound Sterling declines against the US Dollar amid emerging safe-haven demand, which could be attributed to the United States-Iran talks uncertainty.
EUR/USD pair maintains its upward momentum for a third consecutive session, trading near 1.1390 during Monday's Asian hours. Despite this positive streak, the Euro’s gains could face headwinds if geopolitical uncertainty sparks a flight to safety, boosting the US Dollar.
Gold snaps a two-day rebound from seven-month lows, as sellers return in the Nonfarm Payrolls week ahead. The US Dollar holds the previous bounce amid renewed Mideast tensions, hawkish Fed bets. Gold stays a ‘sell on rise’ trade amid bearish RSI and Death Cross on the daily chart.
The broader cryptocurrency market continues to trade under pressure, with Bitcoin struggling for direction near $60,000 on Monday. Retail sentiment in crypto leans bearish, with CoinMarketCap’s Fear and Greed Index at 15 on Monday, maintaining a sideways trend deep in the “Extreme Fear” zone.
Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.
The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.
