EUR/USD comes under pressure near 1.1530
EUR/USD now trades with marginal losses, receding toward the 1.1530 region on Wednesday. The pair’s slight pullback comes amid the now better tone in the US Dollar, as investors seem to have fully digested the latest US inflation data. The fragile landscape in the Middle East, in the meantime, is also expected to keep limiting the downside potential of the buck for now.
Gold trims gains; focus is back to $4,400
Gold now gives away part of its earlier advance to the vicinity of the $4,450 mark per troy ounce and approaches the $4,400 hurdle on Wednesday. The yellow metal’s partial loss of momentum follows the US Dollar’s recovery attempt after the CPI-led pullback.
GBP/USD looks inconclusive around 1.3500
GBP/USD faces renewed selling pressure, eroding the earlier advance and confronting the key 1.3500 level on Wednesday. The lack of follow through in Cable’s initial move higher comes in response to the resurgence of the demand for the Greenback amid steady geopolitical tensions.
Ripple lags recovery as exchange reserves expand
Ripple is trading within a broadly constrained technical structure, with support at $1.00 and key moving averages limiting its recovery potential. In August, the remittance token declined by approximately 6.5%, extending its total pullback to around 14% from July's $1.18 peak.
DEEPER DIVE
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911 million shares freed: Why SpaceX rallied into its own supply
The most heavily trailed supply event of the year landed on August 6, and the SpaceX (SPCX) stock went up. Roughly 911.5 million shares held by insiders and early backers became eligible to trade, around 43% more than the entire float sold at the listing.
CRYPTOCURRENCIES
Ripple lags recovery as exchange reserves expand
Ripple is trading within a broadly constrained technical structure, with support at $1.00 and key moving averages limiting its recovery potential. In August, the remittance token declined by approximately 6.5%, extending its total pullback to around 14% from July's $1.18 peak.
Pi Network hits a make-or-break level amid renewed social buzz
PI is holding steady around $0.0887 on Wednesday, sustaining its 2% gain from the previous day. Data shows a fresh spike in retail demand amid stable positional buildup in PI futures. The technical outlook for PI is mixed, with the price holding at a crucial support level at $0.08397.
Uniswap risks steeper decline as bearish signals pile up
Uniswap faces intense selling pressure, down nearly 6% on Wednesday after a 5% drop the previous day. The launch of Continuous Clearing Auctions on Avalanche enables teams to run on-chain token auctions and bootstrap liquidity, reducing friction in interoperability.
STOCKS
WhiteHorse Finance misses Q2 earnings and revenue estimates
Nasdaq 100 rebound looks strong… or is it just a trap?
The Nasdaq 100 spent the past few sessions recovering strongly from its November lows, rebounding from 24,307 and climbing back into the 25,100–25,150 mid-range zone. While the candles look convincing, the broader picture reveals a different story: the index remains trapped inside a 4H range structure.
WEEKLY FORECAST
EUR/USD: US inflation and war doldrums to keep shaping market’s mood
Why the WTI sell-off may be hiding a supply warning
Gold: Bullish pressure builds on easing Fed rate hike bets
Bitcoin: Can bulls weather the market uncertainty?
US Dollar: Sticky inflation, weaker jobs and hopes of peace
Week ahead – US CPI data, BoJ summary and RBA decision take the stage
EDUCATION
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PRESS RELEASES
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PrimeXBT launches MT5 Cent Account for beginners and risk-conscious traders
PrimeXBT, a global multi-asset broker, has expanded its MetaTrader 5 (MT5) offering with the launch of a Cent Account, providing traders with a lower-risk way to access live markets, test new trading strategies, and trade with significantly smaller position sizes.