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GBP/USD falls to near 1.3450, upside appears on fading BoE rate cut bets GBP/USD retraces its recent gains from the previous session, trading around 1.3450 during the Asian hours on Wednesday. The pair may regain its ground as the Pound Sterling (GBP) receives support from the dampened likelihood of further Bank of England (BoE) rate cuts, driven by persistent inflationary pressures. Inflation in the UK economy has been accelerating at a faster pace in recent months. Catherine Mann, a member of the BoE Monetary Policy Committee (MPC), said on Tuesday that the bank rate should be held persistently to lean against inflation risks. She also stated, “I stand ready for a forceful policy action, in the form of larger, more rapid Bank Rate cuts, should the downside risks to domestic demand start materializing.” Read more… GBP/USD churns chart paper near key figures ahead of quiet session GBP/USD rebounded from early-week losses on Tuesday, bouncing back up from a fresh technical floor near the 1.3450 level. Cable has been drifting within familiar technical levels as broad-market investor sentiment grinds to a halt ahead of key US economic figures. It’ll be a quiet market session on Wednesday; meaningful economic data is functionally absent on both sides of the Atlantic. Investors will be on the lookout for further political headlines from the Trump administration as traders await results from President Donald Trump’s attempt to directly “fire” Dr. Lisa Cook from the Federal Reserve (Fed) Board of Governors on Monday. Read more… GBP/USD recovers toward 1.3500 ahead of US consumer sentiment data Following Monday’s bearish action, GBP/USD stages a rebound on Tuesday. At the time of press, the pair was up 0.25% on the day at 1.3485. The risk-averse market atmosphere caused GBP/USD to edge lower on Monday. Growing concerns over the Federal Reserve’s (Fed) independence, however, makes it difficult for the US Dollar (USD) to gather strength and helps the pair gain traction on Tuesday. United States (US) President Donald Trump announced on Truth Social late Monday that he has fired Fed Governor Lisa Cook. In response, Cook released a statement via her attorneys, noting that Trump has no authority to fire her and that she will carry out her duties. Read more… Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

Gold prices fell in Philippines on Wednesday, according to data compiled by FXStreet. The price for Gold stood at 6,205.28 Philippine Pesos (PHP) per gram, down compared with the PHP 6,239.96 it cost on Tuesday. The price for Gold decreased to PHP 72,377.00 per tola from PHP 72,781.69 per tola a day earlier. Unit measure Gold Price in PHP 1 Gram 6,205.28 10 Grams 62,053.03 Tola 72,377.00 Troy Ounce 193,005.80 FXStreet calculates Gold prices in Philippines by adapting international prices (USD/PHP) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly. Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.) Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

The US Dollar Index rises ahead of looming US economic data later in the week. Traders adopt caution due to rising concerns over Fed independence. Fed Governor Lisa Cook’s exit may boost the odds of earlier rate cuts. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is recovering its recent losses and trading around 98.50 during the Asian hours on Wednesday. Traders await the upcoming release of the Q2 US Gross Domestic Product Annualized and July Personal Consumption Expenditures Price Index data, the Fed’s preferred inflation gauge. However, the upside of the US Dollar could be limited as traders remain cautious amid rising Fed concerns and the prospect of a more dovish Fed. US President Donald Trump announced early Tuesday that he was removing Fed Governor Lisa Cook from her position on the Fed’s board of directors. Trump also said that he was ready for a legal fight with Cook over falsified mortgage documents. Trump has already nominated White House economist Stephen Miran to a temporary seat that expires in January and has suggested Miran could also be in the running for Cook’s position. Meanwhile, David Malpass, former World Bank president, is considered another potential candidate, per the Wall Street Journal. The exit of Fed Governor Cook may increase the chances of earlier interest rate cuts, given Trump’s ongoing pressure on the central bank to reduce borrowing costs. Traders are now pricing in more than 87% odds for a cut of at least a quarter-point at the Fed’s September meeting, up from 84% previous day, according to the CME FedWatch tool. US Dollar FAQs The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

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Mexico’s tariff news follows reports of the US administration planning to impose rules of origin for indirect shipments. Natixis Asia Pacific Chief Economist Alicia Garcia Herrero commented on China’s outlook for terms of trade, stating: “Rerouting will be much harder in the second half. So that’s going to hit Chinese exports indirectly. So, that’s why the second half is tougher and the government has been preparing.” The latest trade developments came as the US and China prepare for the next round of trade talks. China’s chief trade negotiator Li Chenggang plans to return to Washington to discuss trade terms. The outcome of trade talks could be crucial given China’s reliance on ‘third countries’ and tariffs targeting Chinese shipments. Mainland Stock Markets Resume Move Toward Record Highs On Wednesday, August 27, Mainland China’s CSI 300 and the Shanghai Composite Index pulled back 1.49% and 1.76%, respectively, after briefly reaching new year-to-date highs. Despite the retreat, optimism over Beijing’s 5% GDP growth target, supported by policy measures, continues to bolster demand for Mainland-listed stocks. The CSI 300 and the Shanghai Composite were up 1.19% and 0.58%, respectively, during the August 28 morning session. Both indexes continue to outperform the Nasdaq Composite Index but trail the Hang Seng Index year-to-date. CSI 300 gained 9.4% in August and 12.7% YTD. Shanghai Composite rose 8.5% in August and 14.1% YTD. The Hang Seng leads, up 24.8% YTD, well ahead of the Nasdaq’s 11.8% Trade developments and Beijing’s next stimulus measures remain crucial to market momentum. An escalation in US-China trade tensions and delays in fresh stimulus could unravel the bullish sentiment. Read More

Opinions expressed by Entrepreneur contributors are their own. At the recent Entrepreneur Level Up Conference, entrepreneurs from across the country gathered to gain strategies, inspiration and practical insights from a lineup of well-known successful entrepreneurs. I was honored to host the conference and partner with Entrepreneur. One of the headliners, Robert Herjavec — investor, entrepreneur and star of Shark Tank — delivered a keynote packed with wisdom for founders navigating today’s unpredictable business landscape. Herjavec’s insights were not abstract theories. They were hard-earned lessons forged in the trenches of entrepreneurship — lessons that spoke directly to the challenges and aspirations of the audience. Here’s a breakdown of his most impactful takeaways. Related: Want to Be a Better Leader? Show Employees You Care. 1. Every answer opens a door to opportunity Herjavec emphasized that opportunities rarely arrive neatly packaged. They often hide in conversations, questions or unexpected feedback. “Every answer opens a door to opportunity,” he said. The message was clear: curiosity is a growth engine. Entrepreneurs who remain curious — asking questions and seeking insights — often discover pathways others overlook. Instead of dismissing a “no” or a difficult response, Herjavec urged attendees to look for the opportunity behind it. Sometimes, the follow-up question or the willingness to listen more deeply is what transforms rejection into possibility. 2. Evolution, not revolution The myth of entrepreneurship often celebrates the “big idea” that transforms an industry overnight. But Herjavec reminded the audience that this is rarely the case. “Most businesses evolve — they’re rarely revolutions.” He explained that while breakthrough innovations capture headlines, the majority of sustainable businesses are built on incremental improvements, better execution and adapting existing ideas to new markets. For entrepreneurs, this means it’s okay if your business doesn’t feel revolutionary from day one. What matters is staying committed to evolving, improving and listening to the market. 3. Adaptability is non-negotiable If there was a central theme in Herjavec’s talk, it was adaptability. He described winning businesses as those that thrive on adaptability — not just to survive shocks, but to seize growth in changing conditions. “When knocked down, resilience plus adaptability equals survival.” He acknowledged that setbacks are inevitable in entrepreneurship. The real test isn’t whether you’ll face challenges, but how you respond to them. Entrepreneurs who can adapt — whether by shifting strategy, reinventing a product or rethinking how they serve customers — are the ones who endure. 4. The founder sets the tone Herjavec didn’t shy away from a sobering reality: when businesses struggle, the root cause often lies with leadership. “Show me a business in trouble, and I’ll show you a founder who has lost their way.” He explained that when leaders lose focus, passion or clarity, the organization inevitably follows. A founder’s vision and energy cascade down into the culture, decision-making and execution. If leaders drift, so does the company. For entrepreneurs, this is a call to self-reflection. Protect your clarity of purpose. Revisit why you started. And remember that your team looks to you not just for direction, but for inspiration. 5. Success is never accidental While luck can play a role in any journey, Herjavec stressed that sustainable success is never accidental. Behind every thriving business is intentionality — clear strategy, deliberate choices and consistent effort. He encouraged entrepreneurs to resist the temptation of shortcuts and quick wins, instead focusing on building systems and cultures that create lasting value. This doesn’t mean every decision will be perfect, but it does mean success comes to those who plan, prepare and execute with purpose. Related: 5 Strategies for Leaders to Future-Proof Their Workforce 6. Rethinking sales As an entrepreneur who built and scaled a successful cybersecurity firm before becoming a television investor, Herjavec has lived through countless sales conversations. His perspective on sales was refreshingly straightforward. “Sales equals uncovering client needs plus communicating how you meet them.” He stressed that sales isn’t about pushing a product, talking endlessly or forcing a solution. It’s about understanding — truly listening to what clients need — and then clearly showing how your business delivers value. Equally important, he warned against the temptation to oversell. “Don’t oversell. Selling should feel natural: Am I providing value?” In Herjavec’s view, sales is not about persuasion, but about alignment. When entrepreneurs shift their mindset from “closing deals” to “creating value,” selling becomes easier, more authentic and ultimately more successful. 7. Resilience is the entrepreneur’s superpower Beyond adaptability, Herjavec spoke passionately about resilience. Entrepreneurship, he reminded the audience, is a marathon, not a sprint. The journey is filled with failures, rejections and setbacks that would crush many people. But successful entrepreneurs are defined not by how often they fall, but by how quickly and effectively they get back up. Resilience isn’t just about surviving adversity — it’s about using it as fuel to keep moving forward. 8. Putting it all together When woven together, Herjavec’s insights form a practical framework for entrepreneurs: Stay curious. Every question or answer could unlock a new path. Focus on evolution. Businesses rarely transform the world overnight; they grow through steady improvement. Prioritize adaptability. Resilience plus the ability to adapt equals survival. Lead with clarity. A founder’s vision shapes the trajectory of the business. Be intentional. Success is the product of strategy, not accident. Sell by serving. Sales is about listening, uncovering needs and providing genuine value. Build resilience. Setbacks aren’t the end; they’re the training ground for growth. For the entrepreneurs in the audience, these weren’t just abstract principles. They were reminders that the entrepreneurial journey — while hard — is navigable with the right mindset and tools. Conclusion: The path forward Robert Herjavec’s keynote at the Entrepreneur Level Up Conference reinforced a timeless truth: entrepreneurship is not just about great ideas, but about great execution, resilience and human connection. His words served as both a challenge and an encouragement. The challenge: entrepreneurs must remain vigilant, adaptable and intentional in their leadership. The encouragement: success is within reach for those willing to evolve, listen and