Market talks suggesting that European policymakers are studying a potential revamp of their inflation goal of below but close to2.0%. EUR/USD bounces just modestly from a daily low of 1.1204.
The GBP/USD pair reverses upbeat UK retail sales data led gains, but holds firmer above the 1.2450 level amid renewed Brexit optimism around the Irish border backstop and broad USD weakness.
Sliding US bond yields weigh on the USD amid impending Fed rate cut later this July. US-China trade tensions underpin JPY’s safe-haven demand and add to the selling bias.
The basic notes of the US economy, success on the consumer and labor sides coupled to an apprehensive business sector remained the status quo in the latest Federal Reserve report issued on Wednesday.
new calendar events
Bitcoin rollercoaster rides are at their full throttle and paint a picture of extreme volatility levels. As FXStreet reported, the slump from highs slightly above $11,000 explored levels marginally above $9,000 on Wednesday before recovery ensued.
Litecoin gained incredibly yesterday following the drop to recent support at $77.50. After the 15% correction in a single day, LTC/USD hit a high around $94.86 before the trend gave way for a retracement touching $87.18 during the Asian trading hours on Thursday.
Ethereum has in the past few days come under heavy selling pressure. The crypto plunged from levels above $300 and explored how deep the rabbit hole goes under $200. Support established at $190 allowed the bulls to take over control and push for gains above $200.