U.S. Treasury Secretary Steven Mnuchin is hitting the wires, via Reuters, noting that tax reform "will happen whether health care reform is done or not".
Author
Felipe Erazo
FXStreet
Born in Colombia, Felipe Erazo is the American Session Manager at FXStreet. He has been studying journalism with a degree in social communication at the Universidad de Chile.
GBP/USD preserves its bullish momentum midweek and trades above 1.3550 in the American session. The UK annual Consumer Price Index (CPI) inflation picked up to 2.9% in July, meeting estimates, while core CPI rose by 2.6% YoY in July versus 2.5% expected. The Federal Reserve (Fed) will publish the minutes of its July policy meeting later in the day.
EUR/USD gathers bullish momentum and trades slightly above 1.1600 in the second half of the day on Wednesday. The US Dollar resumes its downside as weak US economic data weigh on expectations of tighter Federal Reserve policy. Traders will take further cues from the FOMC Minutes later in the day.
Gold climbs back above $4,350 during the first half of the European session, reversing a part of the previous day's heavy losses. The US Dollar attracts some sellers, and for now seems to have stalled this week's goodish recovery from a two-month low, which is seen as a key factor supporting the commodity. Bulls, however, might opt to wait for more cues about the US Federal Reserve's future policy path before placing fresh directional bets on the non-yielding yellow metal.
Shiba Inu recovers slightly, trading at $0.0000044, after finding support around the critical level earlier this week. The dog-themed meme coin shows improving sentiment as social dominance rises, funding rates turn positive, and bullish traders increase their long positions. On the technical side, SHIB suggests a potential recovery if it holds above the key $0.0000043 level.
