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EUR/USD stays defensive below 1.0900 ahead of German ZEW survey
EUR/USD is on the defensive below 1.0900 in the early European session on Tuesday. The renewed US Dollar demand weighs on the pair, as risk sentiment remains in a tepid spot ahead of Germany's ZEW survey and the key US Retail Sales data.
GBP/USD holds lower ground near 1.2950, US data awaited
GBP/USD is trading close to 1.2950 in European trading on Tuesday, reversing from the 2024 high of 1.2995 recorded in the previous session. The pair is pressured by a broad US Dollar uptick, as markets turn cautious ahead of the US Retail Sales data and Fedspeak.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold gathers pace to retest all-time high at $2,450
Gold price is looking to extend previous gains early Tuesday, having clinched a new two-month high at $2,440 a day ago. Growing expectations that a US Federal Reserve interest-rate cut in September is a done deal continue to underpin the non-interest-bearing Gold price.
Litecoin price sets for a rally following the breakout of a falling wedge
Litecoin price broke above the falling wedge pattern on Monday, trading 1.36% higher on Tuesday. On-chain data highlights a capitulation event for LTC on July 15, potentially signaling forthcoming bullish momentum.
Trading the week ahead
This week presents several high-probability opportunities to closely monitoring. The Canadian CPI print is one of the main events. The BoC has expressed concern about the impact of higher interest rates on mortgage holders, with about 50% yet to remortgage.