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GBP/USD hovers around 1.2750 on UK election day
GBP/USD is trading on the front foot near 1.2750 in early European session on Thursday. A broadly softer US Dollar keeps the pair afloat but traders refrain from placing fresh bets on the Pound Sterling, as UK voters head for polls.
EUR/USD holds below 1.0800 ahead of ECB Accounts
EUR/USD keeps its range below 1.0800 in the European morning on Thursday. This upside is attributed to a decline in the US Dollar due to the escalated speculations of a September Fed rate cut. ECB Accounts is next in focus.
Gold looks north amid light trading, focus shifts to US NFP
Gold price is looking to extend the previous upsurge early Thursday, sitting at the highest level in over a week near $2,360. Sustained US Dollar weakness alongside sluggish US Treasury bond yields underpin Gold price amid the July 4 US holiday-thinned market conditions.
Binance coin poised for an 11% crash
Binance Coin breached its ascending trendline support on Wednesday and declines 3% on Thursday. On-chain analysis reveals a long-to-short ratio below one, indicating bearish sentiment and suggesting a potential price downturn for BNB in the days ahead.
Global strategy 3Q 2024
The latest economic and inflation data support a normalisation of monetary policy. The ECB started by cutting interest rates for the first time in June, while the US Fed is still waiting. Uncertainty about the future interest rate path is considerable in view of geopolitical uncertainties.