United States CFTC Gold NC Net Positions increased to $266.4K from previous $261.7K
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Editors’ Picks
GBP/USD remains depressed below 1.3500
The selling pressure on the British pound appears unabated on Friday, with GBP/USD navigating the sub-1.3500 region and en route to close the week with modest losses, as investors continue to asssess disheartening prints from UK Retail Sales and the larger-than-expected borrowing, which in turn reignited fiscal concerns.
EUR/USD meets daily contention near 1.1720
EUR/USD now manages to gather some buying interest, bouncing off earlier lows near 1.1720 and reclaiming the 1.1760-1.1770 band at the end of the week. The modest bullish attempt comes on the back of some loss of impetus in the US Dollar, which nonetheless remains underpinned by the broad-based advance in US yields and firm sentiment, all following the FOMC event.
Gold keeps the bid bias in place around $3,670
Gold clocks decent gains, revisiting the $3,670 region per troy ounce at the end of the week. In the meantime, market participants continue to evaluate solid chances of further interest rate cuts by the Federal Reserve in the next few months. At the same time, the precious metal 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.
Weekly focus: Central banks on a relatively steady course
The September round of central bank meetings is nearing its end with perhaps a surprising sense of stability in financial markets. Despite the blurry outlook, mixed data signals and political pressure in the US, the rate decisions did not cause major volatility in broader financial conditions.
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