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Editors’ Picks
EUR/USD sits at seven-week highs above 1.1500
EUR/USD consolidates its weekly uptrend near multi-week highs above 1.1500 in Thursday’s European session. Trade uncertainties and sustained US Dollar weakness on dovish Fed bets support the main currency pair. Attention now turns to ECB-speak and US PPI inflation data.
GBP/USD returns to the red near 1.3550 after downbeat UK data
GBP/USD has returned to the red near 1.3550 in European trading on Thursday. The UK GDP fell by 0.3% in April, compared to a 0.1% decline expected while the industial data missed forecasts, exerting downward pressure on the Pound Sterling. Focus now shifts to the US PPI inflation data.
Cardano Price Forecast: Whales acquire 310 million ADA amid potential triangle breakout
Cardano (ADA) shows weakness as it reverses from an overhead trendline of a triangle pattern. The altcoin edges lower by over 1% at press time on Thursday, fueling a steeper correction in its Open Interest. Amid weakness, Cardano whales have acquired 310 million ADA tokens so far this month, projecting increased confidence as the triangle pattern nears resolution.
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