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📊 Gold is under pressure due to uncertainty about Fed interest rate path Gold prices (XAU) fell by 0.12% on Thursday despite a weakening U.S. dollar (USD) as investors continued to recalibrate expectations around the Federal Reserve’s policy path. A weaker U.S. dollar typically supports gold, but the market appeared to focus instead on mixed signals from economic data and central bank commentary. Investors remain cautious, awaiting clearer confirmation of the Fed's rate path amid growing political and macroeconomic uncertainty. 👉 Possible effects for traders Speculation is mounting that U.S. President Donald Trump may announce his nominee for the Fed Chair role in September or October. Markets anticipate a candidate who is inclined towards a more accommodative monetary policy. Meanwhile, Fed Chair Jerome Powell indicated that the absence of new tariffs would contribute to disinflation, potentially opening the door to multiple rate cuts if aggressive trade measures are avoided. His comments reinforced the notion that the Fed remains flexible and data-dependent but fell short of committing to immediate easing. Recent U.S. economic data painted a mixed picture. A revised gross domestic product reading showed the economy contracted by 0.5% in Q1, fuelling dovish expectations. However, this was partially offset by a drop in jobless claims towards a five-week low and a surprising surge in durable goods orders—the strongest in over a decade—suggesting underlying resilience. XAUUSD continued declining during the Asian and early European trading sessions. Market attention is now on the Personal Consumption Expenditures (PCE) Price Index report due at 12:30 p.m. UTC today. The data could provide further insights into how the Fed plans its monetary policy path. Higher-than-expected figures will likely deepen downward pressure on XAUUSD, while weaker numbers could give gold bullish momentum. Sign Up Now ➡️https://bit.ly/attocta

📊 Euro rises on dovish Fed rhetoric The euro (EUR) continued to rise on Thursday, reaching its highest point since September 2021, as markets increasingly priced in a more dovish monetary policy stance from the Federal Reserve. 👉 Possible effects for traders Speculation over U.S. President Donald Trump’s potential nomination of a new Fed Chair by September or October added pressure to the U.S. dollar (USD), as investors anticipated a shift towards looser financial conditions. The possibility of a 'shadow' leadership dynamic at the central bank raised questions about the future direction of U.S. monetary policy. Fed Chair Jerome Powell adopted a notably dovish tone in his recent congressional testimony, weighing further on the U.S. dollar. He emphasised that in the absence of tariff-induced inflation, the Fed would likely have continued its cutting rates—signalling that the central bank remains open to easing if economic conditions permit. His comments reinforced expectations for policy flexibility and supported market projections for significant rate cuts in the coming months. Broader risk sentiment improved after the White House downplayed the urgency of looming tariff deadlines, helping to ease fears of a prolonged trade conflict and reducing safe-haven demand for the U.S. dollar. These factors continue to shape a stronger outlook for the euro. Today, traders are watching for the release of the Personal Consumption Expenditure (PCE) Price Index at 12:30 p.m. UTC. The data is the Fed's preferred measure of inflation and may offer additional clues on the timing and scale of potential rate cuts. If the figures exceed forecasts, EURUSD may correct sharply downwards. Otherwise, the bullish trend is likely to continue. Sign Up Now ➡️https://bit.ly/attocta

📊 Bitcoin rises despite broader market uncertainty Bitcoin (BTC) traded near the $108,000 mark on Thursday as investors assessed the evolving macroeconomic and regulatory landscape. 👉 Possible effects for traders A key driver of sentiment remains the Federal Reserve's (Fed) increasingly dovish stance. Fed Chair Jerome Powell reiterated in recent testimony that rate cuts are possible if inflation continues to moderate. This shift has lowered yields on traditional safe-haven assets and increased demand for alternative assets like Bitcoin. Furthermore, the U.S. Dollar Index is approaching multi-year lows, with Bitcoin benefiting from its inverse correlation to the greenback and attracting additional interest from institutional investors. Fundamentally, Bitcoin's network health remains robust, with the hash rate hovering near all-time highs and transaction fees stabilising at sustainable levels after April's halving. Miner profitability has improved due to rising prices and greater operational efficiencies, supporting the long-term security of the blockchain. Additionally, on-chain data indicates increased holding behaviour among long-term wallets, suggesting sustained conviction among core market participants. While short-term catalysts may depend on macroeconomic data and central bank signals, Bitcoin's broader adoption trajectory and growing integration into global portfolios underpin a bullish long-term thesis. BTCUSD rose during the Asian and early European trading sessions. Today, traders will focus on the release of the Personal Consumption Expenditures (PCE) Price Index at 12:30 p.m. UTC. The report may spur volatility and shed light on potential shifts in the U.S. monetary policy. Key BTCUSD levels to watch are support at $106,000 and resistance at $108,360. Sign Up Now ➡️https://bit.ly/attocta

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📊 Gold rises due to weak dollar Gold prices (XAU) rose by 0.35% on Wednesday, supported by a weaker U.S. dollar (USD) and declining Treasury yields, which enhanced the metal’s appeal. The shift in investor sentiment followed a pullback in U.S. yields amid growing concerns over economic softness and speculation around future monetary easing. 👉 Possible effects for traders Gold’s rally also reflected investor caution surrounding geopolitical developments in the Middle East. Although the ceasefire between Iran and Israel remained intact, markets are wary of its fragility. Next week's planned meetings between U.S. and Iranian representatives—aimed at curbing Tehran's nuclear ambitions—provided a short-term de-escalation signal, helping stabilise risk sentiment. However, lingering doubts about the ceasefire’s durability and broader regional stability continued to support safe-haven demand for gold. On the monetary front, Federal Reserve (Fed) Chair Jerome Powell maintained a measured tone during the second day of congressional testimony. He acknowledged that while the Fed can handle inflation linked to new tariffs, it isn't yet ready to cut interest rates. His remarks, combined with soft U.S. consumer confidence data for June, hinting at labour market vulnerabilities and uncertainty around trade policy, challenged the Fed's resistance to easing. XAUUSD rose during the Asian and early European trading sessions. Investors are now awaiting key macroeconomic data due at 12:30 p.m. UTC, including GDP growth and jobless claims figures. The data could further influence the policy outlook and gold's trajectory. Key levels to watch are support at $3,295 and resistance at $3,340. Sign Up Now ➡️https://bit.ly/attocta

📊 Euro hits three-year high The euro (EUR) rose to approximately 1.66000 on Wednesday, marking its highest level in over three years. A combination of easing geopolitical tensions, dovish signals from the Federal Reserve (Fed), and mounting fiscal concerns weighed on the U.S. dollar (USD) and bolstered the euro. 👉 Possible effects for traders The euro's rise reflects growing investor confidence in the de-escalation of the Middle East tensions. U.S. and Iranian officials are scheduled to meet next week to discuss Tehran's nuclear programme. The apparent stability of the Israel–Iran ceasefire has further reduced demand for the U.S. dollar as a safe-haven asset. Meanwhile, Fed Chair Jerome Powell maintained a cautious stance, reaffirming that interest rates are likely to remain steady in the near term. He warned that U.S. President Donald Trump's trade tariffs could fuel inflation, making it premature to commit to immediate policy easing. However, Powell acknowledged that without tariff-related inflation risks, the Fed would likely have continued cutting rates—highlighting the central bank’s underlying dovish bias. Markets have responded by increasing expectations for policy easing, with traders now pricing in over 60 basis points of rate cuts by year-end and the next reduction anticipated in September. EURUSD continued rising during the Asian and early European trading sessions. Attention is now shifting back to the U.S. fiscal landscape as Congress works towards finalising a major tax and spending package. Trade policy also remains in focus ahead of President Trump’s 9 July deadline for progress on key negotiations, adding another layer of uncertainty to the U.S. dollar’s outlook. Key levels to watch for EURUSD traders are resistance at 1.16300 and support at 1.14500. Sign Up Now ➡️https://bit.ly/attocta

📊 AUD rises for fourth consecutive session The Australian dollar climbed towards 0.65100 on Wednesday, marking its fourth consecutive daily gain. AUDUSD reached a one-week high, supported by improving global risk sentiment. 👉 Possible effects for traders The fragile U.S.-brokered ceasefire between Israel and Iran continued to support market stability. Traders remain cautiously optimistic ahead of U.S.–Iran talks scheduled next week. Despite U.S. President Donald Trump’s scepticism towards diplomatic engagement, the truce has held so far, offering a temporary reprieve from geopolitical volatility. Global monetary policy developments also influenced market sentiment. Federal Reserve (Fed) Chair Jerome Powell reiterated on Wednesday that the central bank isn't rushing to cut rates, even as markets increasingly price in multiple reductions by year-end. Powell's measured tone helped temper aggressive easing expectations, supporting risk-sensitive assets such as the Australian dollar by easing concerns over U.S. economic instability while maintaining policy flexibility. AUDUSD rose during Asian and early European trading sessions. Softer inflation data and weaker-than-expected Q1 Gross Domestic Product (GDP) figures reinforced expectations that the Reserve Bank of Australia will implement a 25-basis-point rate cut in July. Investors are now pricing in a total of 73 basis points of rate cuts by end-2025, highlighting the combined influence of global and domestic factors on the Australian dollar's trajectory. Sign Up Now ➡️https://bit.ly/attocta

Chart: GBPJPY Daily GBPJPY broke the key level at 196.00, confluence with the descending trend line. The price is above both EMAs, indicating strong upward momentum. If GBPJPY breaches above the resistance at 199.50, the price may surge to the 100% Fibonacci Extension at 204.00. On the contrary, staying below 199.50 may prompt GBPJPY to retest the support at 196.00.