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EUR/USD edges higher toward 1.0500 after EU data
EUR/USD picks up fresh bids and heads closer to 1.0500 in the European session on Friday. The pair shrugs off a broadly strong US Dollar amid upbeat Eurozone Industrial Production data. The upside, however, appears capped due to dovergent Fed-ECB policy expectations.
GBP/USD remains pressured below 1.2650 after weak UK data
GBP/USD stays under bearish pressure and trades below 1.2650 in the European session on Friday. The data from the UK showed that the Gross Domestic Product contracted by 0.1% on a monthly basis in October, weighing on the Pound Sterling.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold price surrenders major part of intraday gains; downside potential seems limited
Gold price (XAU/USD) surrenders a major part of its intraday gains and retreats to the lower end of the daily range during the first half of the European session on Friday.
Bitcoin and Ripple stalls while Ethereum eyes rally
Bitcoin faces resistance near $101,100, hinting at a potential downturn. At the same time, Ethereum eyes a rally if it can firmly close above $4,000, and Ripple holds support at $1.96, with a breakdown signaling a possible decline.
Pro-crypto French Hill selected as Chairman of the House Financial Services Committee
Republicans selected French Hill as the new Chairman of the House Financial Services Committee. Hill is a crypto supporter and spearheaded the FIT21 bill for crypto regulations. French Hill will be replacing Chair Patrick McHenry, who is retiring from office.