Author Editor’s Picks The GBP/USD pair struggles to capitalize on the previous day’s strong move up to the weekly high and drifts lower during the Asian session on Thursday.
Spot prices currently trade around mid-1.3300s, down over 0.10% for the day, and, for now, seem to have stalled the recovery move from a nearly four-week low, touched on Tuesday
EUR/USD stays on the back foot around 1.1450 in the European session on Thursday as the better-than-expected German and Eurozone GDP data fails to support the Euro. The US Dollar recovers ground on renewed Mideast hostilities and the hawkish Fed message. Traders now brace for preliminary readings of the second-quarter GDP from the US.
Gold maintains its offered tone through the first half of the European session on Thursday and seems vulnerable to following an intraday rejection near the $4,100 mark. Following Wednesday’s post-FOMC downfall to a one-week low, the US Dollar (USD) regains positive traction amid escalating US-Iran tensions, weighing on the bullion ahead of the US Q2 GDP release. Ripple and Stellar are trading at critical technical levels on Thursday.