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EUR/USD sticks to lows near 1.0550 as US Dollar holds firmer
EUR/USD stays in a bearish consolidation phase and oscillates in a narrow range near six-month lows at around 1.0550 on Wednesday. The US Dollar clings to the recent gains ahead of August Durable Goods Orders data, not allowing the pair to stage a rebound.
GBP/USD trades at fresh multi-month lows near 1.2150
GBP/USD remains under bearish pressure and trades near the multi-month low it set slightly below 1.2150 mid-week. The persistent US Dollar (USD) strength despite a modest improvement seen in risk mood limits the pair's rebound ahead of US data releases.
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Editors’ Picks
Gold struggles to gain traction, stays below $1,900
Gold price finds it difficult to stage a rebound after dropping to a monthly low below $1,900 on Wednesday. The benchmark 10-year US Treasury bond yield holds steady near the multi-year high it set above 4.5%, making it difficult for XAU/USD to shake off the bearish pressure.
This short-term Bitcoin holder indicator forecasts another rally for BTC
Bitcoin price has been malleable to the short-term holder movements. A large spike in profits for short-term holders is almost always met by a correction in BTC.
US government shutdowns and US Dollar implications
A potential US government shutdown that could start October 1st looms, the chances of which are more or less seen as a coin flip at this point. Should a shutdown transpire, there could be a negative impact of the US Dollar.