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Gold rallies to two-week high as USD softens on Iran deal hopes, receding Fed hike bets
Gold (XAU/USD) attracts buyers for the second consecutive day and surges past the $4,100 mark to hit a nearly two-week high during the Asian session on Wednesday.
Wed, Aug 5
Top 3 Price Predictions: Bitcoin, Ethereum, Ripple – BTC eyes breakout, ETH consolidates, XRP finds stability
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) move toward the key technical levels on Wednesday, which could determine the next directional bias. BTC is near the 50-day Exponential Moving Average (EMA), ETH trades sideways while XRP is showing signs of stabilization.
Wed, Aug 5
Silver Price Forecast: XAG/USD revisits monthly high near $61 as oil price plunges further
Silver price (XAG/USD) trades 1.8% higher at around $60.95 during the Asian trading session on Wednesday.
Wed, Aug 5
Crypto Overview: Bitcoin steadies above $64,000 – PUMP, ZEC sustain gains
Bitcoin (BTC) price edges above $64,000 at press time on Wednesday, heading toward its 50-day Exponential Moving Average (EMA) at $64,652. Meanwhile, Pump.fun (PUMP) and Zcash (ZEC) sustain gains after a rebound on Tuesday, with bulls eyeing further upside.
Wed, Aug 5
WTI slips below $74.00 as Hormuz talks progress, US stocks rise
West Texas Intermediate (WTI) oil price falls after paring its daily gains, trading around $73.80 per barrel during the Asian hours on Wednesday.
Wed, Aug 5
Aave founder revolts against proposal to cap Ethereum staking incentives at 50% of supply
Ethereum (ETH) community members have pushed back against a new proposal that seeks to change the network's staking issuance policy by gradually reducing staking rewards as the number of staked ETH approaches 50% of total supply.
Wed, Aug 5
US nears Hormuz deal, aiming for Wednesday announcement – Axios
According to a report from Axios, the United States (US), Iran, and Oman are closing in on an interim agreement to reopen the Strait of Hormuz, with the U.S. aiming for a Wednesday announcement, sources report.
Wed, Aug 5
Japan’s Kihara: Specific monetary policy means are up to the BoJ to decide
Japanese Chief Cabinet Secretary Minoru Kihara said on Wednesday, “specific monetary policy means are up to the Bank of Japan (BoJ) to decide.”
Wed, Aug 5
United States Dollar Index declines amid easing safe-haven demand
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second successive day and trading around 99.90 during the Asian session on Wednesday.
Wed, Aug 5
British Pound weakens as US Dollar gains despite easing safe-haven demand
GBP/USD edges lower after registering modest gains in the previous day, trading around 1.3450 during the Asian hours on Wednesday.
Wed, Aug 5
Euro edges lower below 1.1550 on Hormuz uncertainty
The EUR/USD pair trades with mild losses near 1.1530 during the Asian trading hours on Wednesday. Uncertainty surrounding US-Iran talks weighs on riskier assets such as the Euro (EUR) against the US Dollar (USD).
Wed, Aug 5
Australian Dollar consolidates near 0.7050, highest since June 17 amid reviving USD demand
The AUD/USD pair struggles to break through the 100-day Simple Moving Average (SMA) pivotal barrier near mid-0.7000s and consolidates near its highest level since June 17, touched during the Asian session on Wednesday.
Wed, Aug 5
China’s RatingDog Services PMI eases to 50.4 in July, vs. 53.7 expected
China's Services Purchasing Managers' Index (PMI) declined to 50.4 in July from 54.1 in June, the latest data published by RatingDog showed on Wednesday. This figure came in weaker than the market expectations of 53.7.
Wed, Aug 5
Japanese Yen edges higher on upbeat wages data, hawkish BoJ Minutes and soft USD
The USD/JPY pair struggles to capitalize on this week's solid bounce from the 155.25-155.20 area, or the lowest level since early May, and edges lower during the Asian session on Wednesday. Spot prices, however, lack follow-through selling and hold just above mid-157.00s amid mixed cues.
Wed, Aug 5
PBOC sets USD/CNY reference rate at 6.7889 vs. 6.7917 previous
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7889 compared to the previous day's fix of 6.7917 and 6.7480 Reuters estimate.
Wed, Aug 5
WTI rises to near $75.00 despite diplomatic progress in Middle East
West Texas Intermediate (WTI) oil price appreciates after registering over 5% losses in the previous day, trading around $75.00 per barrel during the Asian hours on Wednesday.
Wed, Aug 5
Ethereum Price Forecast: ETH holds steady below $1,900 as retail distribution rises
Ethereum (ETH) continued trading flat on Tuesday following modestly increasing exchange net flows and continued distribution across retail wallets.
Wed, Aug 5
US Treasury Secretary Bessent: Many Asian currencies track Yen now, including Won and Yuan
US Treasury Secretary Scott Bessent said that the weakness of the Japanese Yen (JPY) has contributed to Japan’s inflation problem and raised the risk of broader depreciation of Asian currencies, Bloomberg reported on Tuesday.
Wed, Aug 5
US Secretary of State Rubio says US-Iran talks progress, deal could come "very shortly"
US Secretary of State Marco Rubio said there has been progress made in discussions with Iran and Oman on getting more ships through the Strait of Hormuz but no final deal has been achieved, the Guardian reported on Tuesday.
Wed, Aug 5
RBI set to keep interest rates unchanged as inflation risks persist
The Reserve Bank of India (RBI) is set to announce its bi-monthly monetary policy decision on Wednesday at 10:00 AM IST (04:30 GMT), another meeting coming at a time when uncertainty remains high over the duration and economic fallout of the ongoing Middle East conflict.
Wed, Aug 5
