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GBP/USD falls hard toward 1.3150 on Bailey's dovish remarks
GBP/USD extends its sell-off toward 1.3150 in the early European session on Thursday. The pair faces fresh supply after BoE Governor Andrew Bailey said that the central bank could become 'more activist' on rate cuts if inflation eases. Mideast concerns-led risk aversion also weighs on the pair.
EUR/USD flirts with three-week lows, nears 1.1000 on USD strength
EUR/USD is dropping toward 1.1000 in the European morning on Thursday, testing three-week lows. Sustained US Dollar strength, on fading outsized Fed rate cut bets and Middle East escalation, weighs on the pair. Meanwhile, increased bets for a 50 bps Oct ECB rate cut undermine the Euro.
Gold keeps the red on bullish USD, Middle East tensions to limit deeper losses
Gold price (XAU/USD) attracts fresh sellers following the overnight bounce from the $2,641 area and remains on the defensive heading into the European session on Thursday. The US Dollar (USD) prolongs its goodish recovery move from the lowest level since July 2023 and advances to a three-week high amid diminishing odds for a more aggressive policy easing by the Federal Reserve (Fed).
Is Bitcoin a safe haven amid Middle East tensions? Here's what you need to know
Bitcoin has shaved 6% of its value since Iran's missile attacks on Israel. Gold has surged amid Bitcoin's plunge in the midst of geopolitical tensions.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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