EURUSD set to test the August 10 high near 1.0370 .

EURUSD accelerates the upside to the boundaries of 1.0300. Economists at BBH expect the pair to test the August 10 high near 1.0370.European Union updated its macro forecasts

“EURUSD broke above its September 12 high near 1.02 and sets up a test of the August 10 high near 1.0370.”“Eurozone growth is seen at 3.2% this year but slowing sharply to 0.3% next year vs. 1.4% previously. Growth is expected to recover to 1.5% in 2024. Inflation is seen at 8.5% this year, up nearly a percentage point from the previous forecast. Inflation is expected to slow to 6.1% next year vs. 4.0% previously, and then to 2.6% in 2024.”

 EURUSD closes in on 1.0300 as US Dollar selloff intensifies

EUR/USD is extending gains toward 1.0300, capitalizing on a fresh risk-on wave after China cut its quarantine restrictions and flight bans. The safe-haven US Dollar resumes its post-CPI downside ahead of the Michigan Consumer Sentiment data.

EUR/USD News 

GBPUSD climbs above 1.1750 on UK data, risk flows

GBPUSD is advancing above 1.1750 in the early European morning on Friday. The UK GDP expanded 2.4% YoY in Q3 vs. the market expectation of 2.1%. The US Dollar sell-off gathers steam amid the return of risk flows. US Consumer Sentiment data awaited. 

GBPUSD News 

Gold: Another pause before next big XAUUSD rally

Gold price is consolidating gains above $1,750, eyeing further upside. The US Dollar struggles to find demand as market mood continues to improve on soft US inflation data and renewed optimism about China easing Covid restrictions. 

Gold News 

Bitcoin price: How scooping up BTC at $17,000 could play out in bleeding bear market

ToBitcoin plummeted to a weekly low of $15,742 before recovering above the $17,000 level. In bear markets, a BTC consolidation and bottom formation takes anywhere from weeks to months.

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