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AUD/USD faces strong resistance around 0.6800
Further weakness saw AUD/USD retreat further and add to Monday’s decline in response to the slight advance in the US Dollar and declining prices in the commodity space.
EUR/USD: Sellers lack conviction so far
EUR/USD revisited the sub-1.0900 region before regaining balance and close Tuesday’s session with marginal gains amidst some loss of momentum in the Greenback and rising bets of an interest rate cut by the Fed in September.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold reaches fresh record highs above $2,460
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.
Meme coins rally amidst Ethereum ETF approval hype, PEPE extends gains by 10%
PEPE, a meme coin built on Ethereum, and based on a popular frog-themed meme has rallied in double digits on Tuesday. As crypto market participants await the Securities & Exchange Commission’s approval of a Spot Ethereum ETF, meme coins have started recovering from their decline in the first week of July.
Despite upside surprise, Retail Sales show lost momentum
Despite lower sales at autos dealers and at gas stations, retail spending held steady in June. Excluding those categories, it was the best month since January 2023, and that means upside risk for Q2 consumer spending.