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The British pound was the standout performer among the major currencies on Wednesday, buoyed by a weaker US dollar and growing optimism over the UK's fiscal outlook. Sterling rallied across the board, lifting GBP/USD to a nine-week high while GBP/AUD rebounded from support to challenge key long-term resistance.
Forex
Gold drifts higher above $4,050 as US PPI unexpectedly fell in June
EUR/USD Price Forecast: Approaches 1.1600 as RSI shifts bullish
USD/CHF Price Forecast: Breaks rising wedge, bears eye 0.8000
It was a painful end to 2025 for Bitcoin, and that continued through early 2026 as gold prices flew and BTC sold off. But tha.
$4,000 under siege: Buyers losing the battle on Gold
Gold price slips as Iran escalation overshadows soft US PPI
Silver slips as hawkish Fed outlook persists despite soft US inflation data
The trading week continues to advance and, for now, the Canadian dollar has started to lose the strength it had shown in prev.
The American currency pulled back as PPI report missed analyst estimates.
Pound Sterling Price News and Forecast: GBP/USD rallies as soft US PPI hits US Dollar
Although gold has gained close to 1.5% over the last 2 trading sessions, this move does not yet appear to confirm a dominant buying bias. For now, the metal continues to show a more neutral behavior, with demand strength still failing to recover fully after the release of PPI inflation data in the United States.
GBP/USD is attempting to complete its most significant technical breakout in months after a 2.6% recovery off the yearly lows carried Sterling back into a major resistance zone defined by the yearly open and key Fibonacci retracement levels. The latest advance has improved the near-term technical outlook, but buyers still need confirmation above this pivotal barrier to invalidate the broader May downtrend.
Soft PPI lifted gold, but rising oil prices and Fed hawkishness are capping gains. See why crude is driving the next move in the gold market.
Euro: Energy risks cap upside against US Dollar – ING
EUR/USD was tumbling from April through June but more recently, sellers have been stalled. Are they just waiting for the next.
Gold continues to test a major support level on Wednesday, as the markets are looking for some kind of continuation, or perhaps some kind of change in overall attitude.
Silver continues to sit just under $60 early on Wednesday, as we continue to see a bit of noisy behavior. Traders are also watching headlines and interest rates in the United States.
Euro finds support as soft US PPI weighs on US Dollar
USD/JPY has failed to close above the 2024 swing high for a third straight week, keeping Bank of Japan intervention risk in play. Michael Boutros, Senior Market Analyst at FOREX.com, breaks down the multi time frame setup and the exact levels that would confirm a breakout or a deeper reversal.
