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EUR/USD corrects from 1.1200 ahead of German IFO survey
EUR/USD pulls back to trade below 1.1200 in European trading on Monday. The pair feels the pull of gravity, thanks to a modest US Dollar rebound and a tepid risk tone. The focus shifts to Germany's IFO and US Durable Goods data for fresh impetus.
GBP/USD hovers around 1.3200 as USD finds its feet
GBP/USD is off multi-month highs to tread water near 1.3200 early Monday. The US Dollar attempts a minor recovery amid souring risk sentiment, acting as a headwind for the pair. Middle East geopolitical risks and US Durable Goods data are closely eyed.
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Editors’ Picks
Gold eyes record highs at $2,532 amid dovish Fed, geopolitical risks
Gold price consolidates the previous week’s gains above $2,500 at the start of the week on Monday. Gold buyers catch a breather after recording the second consecutive weekly gain while reverting toward the all-time high of $2,532.
Bitcoin breaks $64,000 level
Bitcoin price broke out of the consolidation zone between $57,000 and $62,000, showing that a rally is imminent. Ethereum is moving close to the $2,900 resistance level, which, if crossed, indicates a bullish move. Ripple breakthrough over the $0.626 barrier level may portend an uptrend.
Week ahead: PCE inflation eyed as Fed lays groundwork for September cut
Focus to stay on the Fed as PCE inflation to be week’s main highlight. Eurozone inflation data to be crucial for ECB rate cut hopes. Australian and Tokyo CPI, plus Canadian GDP also on the agenda.