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Editors’ Picks
EUR/USD ignores mixed EU data, consolidates below 1.1600
EUR/USD trades in a tight range below 1.1600 in the European session on Wednesday as investors largely ignore the mixed data releases from the Euro area. Traders remain wary while waiting for the announcement of the candidate for the next Fed Chair and Governor Adriana Kugler’s replacement later in the week.
GBP/USD retakes 1.3300 amid subuded USD price action
GBP/USD trades better bid and re-attempts 1.3300 in European trading on Wednesday. The US Dollar stays depressed against the Pound Sterling as traders await US President Trump’s pick for a vacancy on the Federal Reserve’s Board of Governors amid mounting concerns over the US economy and the Fed’s independence.
Bitcoin, Ethereum and Ripple slip as resistance levels hold firm
Bitcoin trades in red below $114,000 on Wednesday, following a rejection from its key resistance level earlier this week. Ethereum and Ripple followed BTC’s footsteps and faced rejection from their critical resistance zones, raising the risk of further declines in the short term.
Euro area – New ECB call: No further cuts in scope
The euro area economy has shown surprising resilience over the summer, with the outlook bolstered by the EU-US deal and accelerated German spending plans. Risks are still tilted towards a final cut later this year or in early 2026. Further softening of wage indicators could open the door for a final ‘insurance cut’.
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