Ongoing strong demand for AI infrastructure “would likely sustain upward pressure on prices for technology products and electricity,” Federal Reserve policymakers said.
The post Pound Sterling Price News and Forecast: GBP/USD gains ground to around 1.3395 appeared on BitcoinEthereumNews.com.
British Pound strengthens to near 1.3400 as UK political risk fades The GBP/USD pair gathers strength near 1.3395 during the Asian trading hours on Thursday, bolstered by fading domestic political uncertainty. However, hawkish minutes from the Federal Reserve (Fed) and renewed tensions between the US and Iran might support the US Dollar (USD) and cap the upside for the major pair. Following the resignation of Keir Starmer in late June, UK political risk has eased significantly, lifting the Cable. The formal race to replace outgoing Prime Minister Keir Starmer begins on July 9. Frontrunner Andy Burnham is widely expected to become Prime Minister by July 20. Read more… British Pound Sterling wins the day and stays stuck in the same trap GBP/USD trades just below 1.3400 on Wednesday, up around a quarter of a percent and once again leaning on the 200-day Exponential M
The post Euro strengthens ahead of Germany’s Trade Balance data appeared on BitcoinEthereumNews.com.
EUR/USD extends its gains for the second successive day, trading around 1.1430 during the Asian hours on Thursday. The Euro (EUR) receives support against the US Dollar (USD) ahead of Germany’s Trade Balance data release later in the day. Traders will likely shift their focus to Friday’s Harmonized Index of Consumer Prices (HICP) data. The US Dollar (USD) underperforms as the Federal Reserve’s (Fed) June Meeting Minutes underscored a widening rift among policymakers during Kevin Warsh’s debut meeting as FOMC Chairman on June 16–17. While a portion of the committee anticipated that the benchmark rate, currently holding at a target range of 3.50% to 3.75%, would likely end the year unchanged or lower, a hawkish contingent strongly argued that persistent price pressures would require a rate hike by year-end. However, this internal friction has reinforced market expectations that the US cen
Warsh's testimony could redefine the Fed's approach to digital assets, influencing future monetary policy and regulatory frameworks.
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The post Gold ETFs Lose $8.9 Billion in June as Global Outflows Accelerate appeared on BitcoinEthereumNews.com.
Investors pulled $8.9 billion from gold exchange-traded funds (ETFs) in June, with North American products accounting for $5.5 billion of the withdrawals as bullion’s price slide deepened. The monthly retreat came as gold recorded its fourth straight losing month. The metal fell 11.7% as a hawkish Federal Reserve and Middle East tensions steered investors away from the metal. Gold ETF Outflows Accelerated in June According to the World Gold Council report, total assets under management fell 13% to $526 billion in the month. In addition, holdings dropped 74 tonnes to 4,047 tonnes. The selling followed a sharp price pullback that reset investor allocations. During the month, New Fed Chair Kevin Warsh signaled a hawkish stance, and the US-Iran conflict lifted inflation fears. Together, they raised expectations of higher rates ahead. Rising real yields and a stronger dollar incre
The post Swiss Franc gains as Fed policy uncertainty drags down US Dollar appeared on BitcoinEthereumNews.com.
USD/CHF remains subdued for the second successive day, trading around 0.8070 during the Asian hours on Thursday. The pair faces challenges as the US Dollar (USD) struggles following the release of Wednesday’s Federal Reserve (Fed) Meeting Minutes. During Kevin Warsh’s debut meeting as FOMC Chairman on June 16-17, policymakers were split: while many participants noted the benchmark rate would likely finish the year unchanged or slightly below its current 3.6% level, an equally vocal contingent argued that rates would need to move higher by year-end. This geopolitical friction has reinforced expectations that the Fed may lock in higher interest rates for longer to combat stubborn price pressures. According to the CME FedWatch tool, swap traders have raised the probability of a rate hike at the next Fed meeting to over 30%, a sharp jump from less than 20% just last week. However,
Rising oil prices due to disrupted Middle Eastern supplies could strain global economies, impacting inflation and energy-dependent industries.
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The post Bitcoin Miners Bet Big on AI Infrastructure and Win. TeraWulf, IREN, Hut 8 Surge appeared on BitcoinEthereumNews.com.
TeraWulf (WULF), IREN, and Hut 8 (HUT) all rallied yesterday, July 8, but Bitcoin’s price had nothing to do with it. Each saw their stock prices continue to rally on separate AI infrastructure news. All three companies were in the top 16 best performing stocks for Wednesday, July 8 as investors reward their shift no matter what Bitcoin does on the day. TeraWulf’s Anthropic Deal Set the Tone TeraWulf stock rose more than 12.8% after signing a 20-year lease with Anthropic for a Kentucky data center. The site will support 401 megawatts of critical IT load, online by early 2028. TeraWulf was yesterday’s second-best performing stock. Image Source: Trading View Analysts project roughly $19 billion in revenue over the lease’s term. Compass Point raised its price target to $40 from $28 after the deal and kept its buy rating. CEO Paul Prager said the lease confirms the
