The Pound continued to strengthen in July hitting fresh year-to-date highs against the US Dollar and Euro.

Economists at MUFG Bank analyze GBP outlook.Turning point has not yet been reached

We believe that the Pound’s recent strong rebound is starting to lose some upward momentum. Evidence of much weaker UK growth in the 2H of this year and/or a faster-than-expected slowdown in inflation will be required to trigger a reversal of Pound gains

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Bitcoin price spikes as MicroStrategy’s Saylor may increase BTC holdings after $750 million stock sale

EUR/USD extends decline to 1.0950 after US ADP data

EUR/USD trades deep in the negative territory near 1.0950 on Wednesday. The data from the US showed that employment in the private sector rose by 324,000 in July, much higher than the market expectation of 189,000, and provided a boost to the US Dollar.

EUR/USD News

GBP/USD slumps to multi-week lows near 1.2700

GBP/USD came under renewed bearish pressure and dropped to its lowest level in nearly a month at around 1.2700 on Wednesday. The US Dollar continues to benefit from the risk-averse market atmosphere and upbeat employment data, weighing heavily on the pair.

GBP/USD News

Gold retreats below $1,950 after US employment data

Gold price declined below $1,950 in the second half of the day on Wednesday. After ADP reported that employment in the private sector rose much more than expected in July, the benchmark 10-year US Treasury bond yield started to edge higher above 4%, causing XAU/USD to stretch lower.

Gold News

Bitcoin price spikes as MicroStrategy’s Saylor may increase BTC holdings after $750 million stock sale

Bitcoin price has made a commendable move in the lower timeframe, rising despite the overall lack of volatility. With a little push from software developer firm MicroStrategy, the flagship crypto has reclaimed levels last seen around July 24.