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EUR/USD hovers above 1.1000 ahead of US Retail Sales data
![EUR/USD hovers above 1.1000 ahead of US Retail Sales data](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/usd-eur-banknotes-58361490_XtraSmall.jpg)
EUR/USD consolidates above 1.1000, within a familiar range in European trading on Thursday. A positive risk tone and a pause in the US Dollar recovery underpin the pair but the upside remains capped, as traders turn cautious ahead of the key US Retail Sales data.
GBP/USD clings to gains near 1.2850 after UK data
![GBP/USD clings to gains near 1.2850 after UK data](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/new-style-twenty-pound-notes-3079195_XtraSmall.jpg)
GBP/USD trades with moderate gains near 1.2850 in the European session on Thursday. The data from the UK showed that the GDP expanded at an annual rate of 0.9% in Q2 as expected, helping Pound Sterling stay resilient against its peers. US data is next in focus.
Gold price rises above $2,450 on growing expectations of Fed rate cut in September
![Gold price rises above $2,450 on growing expectations of Fed rate cut in September](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/stacks-of-gold-bars-19033163_XtraSmall.jpg)
Gold price gains above $2,450 as traders widely anticipated the Fed will begin reducing interest rates from September. The US CPI data for July boosted confidence that price pressures will return to the desired rate of 2%.
AAVE price eyes for rally after retest of support level
![AAVE price eyes for rally after retest of support level](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Aave/aave-150x150logo-637399964748336842_XtraSmall.png)
Aave (AAVE) price trades slightly higher during the Asian trading session on Thursday after surging on Wednesday. On-chain data shows that open interest, daily active addresses and development activity are rising, signaling a bullish trend.
Fed rate cut in September? The data will decide
![Fed rate cut in September? The data will decide](https://editorial.fxstreet.com/images/Macroeconomics/CentralBanks/FED/the-federal-reserve-begins-last-meeting-of-2008-18976491_XtraSmall.jpg)
The US economy is currently navigating a period of slowing growth, persistent inflation, and a tight labour market. The Fed's aggressive monetary policy tightening over the past year has started to show results in moderating inflation