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EUR/USD retreats below 1.0900 after US data
EUR/USD stays under modest bearish pressure and trades below 1.0900 in the second half of the day on Tuesday. The US Dollar holds its ground following the Retail Sales data for June, making it difficult for the pair to regain its traction.
GBP/USD loses traction, drops to 1.2950 area
GBP/USD struggles to keep its footing and trades in negative territory at around 1.2950 in the American session. June Retail Sales data from the US helps the US Dollar stay resilient against its rivals, not allowing the pair to build on previous week's gains.
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Editors’ Picks
Gold climbs to new record-high above $2,450
Following a short-lasting correction in the early American session, Gold gathers bullish momentum and trades a new all-time high above $2,450. The benchmark 10-year US Treasury bond yield stays in the red near 4.2%, fuelling XAU/USD's rally.
Crypto Today: Bitcoin, Ethereum and XRP rally as meme coins PEPE, WIF, FLOKI make double-digit gains
Bitcoin resists sell-off even as news of Kraken exchange users gearing to receive Mt.Gox transfers makes headlines. The largest asset by market capitalization sustained above key support and trades above $63,800 on Tuesday.
ECB bank lending survey shows only modest pickup in expected loan demand
While the economy has returned to growth and interest rates are coming down, loan demand is only modestly improving as bank credit standards remain tight. For the ECB, there is nothing in the data that moves the needle for coming rate cuts.