FxAnalysis

Bitcoin holds steady despite risk concerns, while forex, indices, and commodities react to global sentiment and key macro events.

A dreadful week for the US Dollar (USD) saw the US Dollar Index (DXY) recede to the area of multi-week troughs near 98.50, an area also coincident with its critical 200-day Simple Moving Average (SMA).

The Pound Sterling (GBP) staged a stellar recovery from near four-month lows against the US Dollar (USD) and clinched two-month highs just shy of the 1.3500 threshold.

Gold (XAU/USD) posted another week of gains as headlines from the Middle East remained the main driver for the precious metal and will continue to do so in the short term. 

The EUR/USD pair came back to life this week, settling a handful of pips above the 1.1700 mark. Risk-on flows began late Tuesday, when United States (US) President Donald Trump withdrew his threat to destroy Iran.

USD/CHF is sitting on an important support zone, with US yield trends and Middle East headlines likely to decide whether the pair bounces or slips toward 0.78.