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EUR/USD drops below 1.0850 as USD rebounds

EUR/USD drops below 1.0850 as USD rebounds

Following Tuesday's choppy action, EUR/USD came under modest bearish pressure and declined below 1.0850 on Wednesday. The recovery seen in US Treasury bond yields and the cautious market mood support the USD ahead of FOMC Minutes and weigh on the pair.

EUR/USD News

GBP/USD falls to 1.2700, erases UK CPI-led gains

GBP/USD falls to 1.2700, erases UK CPI-led gains

After rising to its highest level in two months above 1.2750 on UK CPI data, GBP/USD lost its traction and turned negative on the day near 1.2700. The souring market mood helps the USD find demand and makes it difficult for the pair to preserve its bullish momentum.

GBP/USD News

Gold drops toward $2,400 pressured by rising US yields

Gold drops toward $2,400 pressured by rising US yields

Gold price turned south on Wednesday and dropped below $2,410. As markets wait for the Federal Reserve to release the minutes of the April 30-May 1 policy meeting, the benchmark 10-year US Treasury bond yield pushes higher and weighs on XAU/USD.

Gold News

Shiba Inu price buy signal hints 25% upswing on the horizon for SHIB holders Premium

Shiba Inu price buy signal hints 25% upswing on the horizon for SHIB holders

Shiba Inu (SHIB) price continues its struggle above a key hurdle. This development comes as SHIB, an ERC-20 meme coin, reacts to the Ethereum spot ETF approval news.

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Fed Minutes Preview: Markets to focus on comments regarding the inflation outlook

Fed Minutes Preview: Markets to focus on comments regarding the inflation outlook

The Fed left unchanged its monetary policy settings following the April 30-May 1 policy meeting as expected. In its policy statement, the US central bank said that there has recently been a lack of further progress toward the 2% inflation target.

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