EUR/USD came under renewed bearish pressure in the second half of the day and dropped to the 0.9850 area. The dollar rally picked up steam after the ADP employment report and the ISM Services PMI survey, weighing heavily on the pair.
GBP/USD has extended its daily slide and dropped below 1.1300 in the second half of the day on Wednesday. The unabated dollar strength on the back of upbeat ISM Services PMI and ADP Employment Change data forces the pair to continue to stretch lower.
Spot gold gave up part of its weekly gains on Wednesday and dipped to $1,700.47 a troy ounce, quickly bouncing afterward towards the current $1,712 price zone. The American dollar made a nice comeback as the market sentiment deteriorated.
Welcome back to the deep dive series where this time we focus on Visa (V), the global payments company. Perhaps somewhat timely as consumers begin once again to turn to credit in the face of a pending recession and inflation.