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GBP/USD trades steady after initial UK election results deliver few surprises
GBP/USD is fighting back into the high end as the Greenback broadly recedes on Thursday. Market volumes are drawn tight with US exchanges shuttered in observation of the US Independence Day holiday, and Cable traders found little reason to head for the hills after UK Parliamentary Election results came in broadly as-expected.
AUD/USD holds its ground, markets eye key NFPs from the US from June
The Australian Dollar held its ground against the USD, maintaining itself in highs since January. This is despite the weaker-than-expected Trade Surplus figures reported during the Asian session as the USD remains weak following Wednesday’s set of soft economic figures reported.
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Editors’ Picks
Gold consolidates weekly gains ahead of US NFP
Gold struggles to build on Wednesday's gains and trades in a narrow band above $2,350. Sustained US Dollar weakness alongside sluggish US Treasury bond yields help XAU/USD limit its losses ahead of Friday's key June jobs report from the US.
Ethereum bears gain momentum after ETH breaches key support level
Ethereum is down more than 5% on Thursday following the US SEC failure to approve ETH ETF issuers' S-1 drafts. Meanwhile, the recent decline has strengthened the bearish outlook after ETH moved below a key support level, sparking $90 million in long liquidations.
Labour wins a landslide, as Pound is unconcerned by Starmer government
What a difference five years makes, Labour have turned themselves around and are on course to win 410 seats and a 170-seat majority, according to the exit polls conducted by the main UK broadcasters.