Bitcoin (BTC) is trending higher alongside other major cryptocurrencies on Wednesday. Ethereum (ETH) has reclaimed $2,500 as short-term support, raising the odds that the uptrend will gain momentum.
Gold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
Scotiabank strategists Shaun Osborne and Eric Theoret highlight a mixed US Dollar (USD) as markets weigh rising Oil prices, Japanese Yen (JPY) strength, and escalating US trade tensions.