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Editors’ Picks
GBP/USD remains under heavy pressure near 1.3470
The selling pressure on the British pound now gathers steam on Friday, sending GBP/USD to fresh two-week lows near 1.3470, as investors continue to asssess disheartening prints from UK Retail Sales and the larger-than-expected borrowing, which in turn reignited fiscal concerns. The strong note in the Greenback also contributes to the sour momentum around the quid.
EUR/USD drops to daily lows near 1.1720
EUR/USD now accelerates its downside impulse and flirts with the area of weekly troughs near 1.1730 at the end of the week. Once again, the continuation of the buying pressure on the US Dollar and the widespread advance in US yields keep propping up the strong post-Fed recovery in the buck.
Gold treads water around $3,650
Gold trades with slight gains around the $3,650 mark per troy ounce at the end of the week, as traders continue to evaluate solid chances of further interest rate cuts by the Federal Reserve in the next few months. The yellow metal, in the meantime, manages to reverse two consecutive daily declines.
Pi Network reduces KYC flow with AI-integration as whales accumulate
Pi Network (PI) consolidates above $0.3500 for the fifth consecutive day, as the recently launched AI-powered Know Your Customer (KYC) fails to uplift investors’ sentiment. Still, a decline in Centralized Exchanges wallet balances, and the moves from whales suggest that large-wallet investors are buying the dip.
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