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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 now gives away part of the earlier advance toward the 1.3550 region, or multi-week peaks, looking to consolidate around the 1.3530 region on Wednesday. Cable’s continuation of its march north follows the modest downside pressure on the Greenback after US CPI readings matched consensus in July.
EUR/USD now surrenders some gains and recedes toward the 1.1550 regio on Wednesday. Despite the knee-jerk, spot keeps the bid tone intact amid the offered stance in the US Dollar, all in the wake of in-line US inflation data in July. However, the fragile landscape in the Middle East is expected to put a floor to the occasional downward trend in the buck.
Gold now pushes harder and climbs to new two-month highs near $4,450 per troy ounce on Wednesday. The yellow metal’s solid performance comes on the back of a weaker US Dollar and declining US Treasuty yields across the curve as investors assess the latest US CPI data.
Ripple is trading within a broadly constrained technical structure, with support at $1.00 and key moving averages limiting its recovery potential. In August, the remittance token declined by approximately 6.5%, extending its total pullback to around 14% from July's $1.18 peak.
The most heavily trailed supply event of the year landed on August 6, and the SpaceX (SPCX) stock went up. Roughly 911.5 million shares held by insiders and early backers became eligible to trade, around 43% more than the entire float sold at the listing.
