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EUR/USD clings to gains above 1.0750 after US ADP data
EUR/USD continues to trade in positive territory above 1.0750 in the American session on Wednesday. The data from the US showed that employment in private sector rose less than expected in June, making it difficult for the US Dollar to find demand ahead of FOMC Minutes.
GBP/USD climbs above 1.2700 on USD weakness
GBP/USD preserves its bullish momentum and trades above 1.2700 in the second half of the day on Wednesday. The weaker-than-forecast ADP Employment Change data and the increase seen in weekly Jobless Claims weigh on the USD and allow the pair to stretch higher.
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Editors’ Picks
Gold jumps above $2,350 after US data
Gold gathers bullish momentum and trades at its highest level in over a week above $2,350. Following the disappointing ADP Employment Change and Initial Jobless Claims data from the US, the 10-year US yield stretches lower, helping XAU/USD extend its daily rally.
Crypto Today: Bitcoin erases gains from end of June, Ethereum declines while Ripple holds
Bitcoin wipes out gains from the last week of June and falls below $60,000 on Wednesday. Ethereum and top altcoins ranked by market capitalization erased gains as the inflation outlook worsened.
US markets back on top after Powell's confidence in disinflation
Speaking at the ECB conference on Tuesday, the current Fed’s chief noted that the US is back on a "disinflationary path". Of course, this was followed by caveats that more data is needed to decide on a rate cut.