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EUR/USD stays under pressure near 1.0550 on renewed USD strength
EUR/USD holds lower ground near 1.0550 on Wednesday. The US Dollar benefits from rising US Treasury bond yields and the cautious market mood, forcing the pair to stay on the back foot. Several Federal Reserve policymakers will be delivering speeches later in the day.
GBP/USD declines toward 1.2650, erases UK CPI-led gains
GBP/USD loses its traction and retreats toward 1.2650 on Wednesday. Although the stronger-than-expected inflation data from the UK helped Pound Sterling gather strength, the risk-averse market atmosphere caused the pair to reverse its direction.
Gold stays below $2,640 as US yields rebound
Gold struggles to hod its ground and trades below $2,640 on Wednesday. Following Tuesday's slide, the benchmark 10-year US Treasury bond yield stays in positive territory, making it difficult for XAU/USD to building on its weekly gains.
Why is Bitcoin performing better than Ethereum? ETH lags as BTC smashes new all-time high records
Bitcoin has outperformed Ethereum in the past two years, setting new highs while the top altcoin struggles to catch up with speed. Several experts exclusively revealed to FXStreet that Ethereum needs global recognition, a stronger narrative and increased on-chain activity for the tide to shift in its favor.
Sticky UK services inflation to keep BoE cutting gradually
Services inflation is set to bounce around 5% into the winter, while headline CPI could get close to 3% in January. That reduces the chance of a rate cut in December, but in the spring, we think there is still a good chance the Bank of England will accelerate its easing cycle.
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