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EUR/USD stays depressed near 1.0800, awaits US data
EUR/USD trades on the back foot near 1.0800 in early Europe on Thursday. The pair is nursing losses, induced by sustained US Dollar strength and evaporating risk appetite. Traders look to top-tier US economic data and Fedspeak for fresh trading incentives.
GBP/USD holds losses below 1.2700 on firmer US Dollar
GBP/USD is on the defensive below 1.2700 in the European morning on Thursday. A broadly stronger US Dollar amid waning Fed rate cut expectations and risk-aversion, keeps the pair undermined ahead of US data and Fedspeak.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold sellers refuse to give up, as focus shifts to US PCE inflation
Gold price is seeing fresh selling near $2,330, extending the previous decline early Thursday. The US Dollar gains further ground, exerting downside pressure on the Gold price. Markets eagerly look forward to a fresh batch of US economic data and more US Federal Reserve policymakers’ speeches for fresh policy cues.
Celebrity meme coins gain attention as Iggy Azalea and Davido join the train with respective token launches
Celebrity meme coins surged on Wednesday after popular artists Iggy Azalea and Davido launched their tokens. The rise of celebrity meme coins has also seen several controversial token launches, which put users at risk of potential rug pulls or pump-and-dump scams.
The focus is on core PCE showing a cooling
An autopsy on Tuesday’s price action is useful. We got a hot mess in the news and on the charts. Minneapolis Fed Kashkari said the Fed has not ruled out additional rate hikes.