Due to weakness in the background, I see potential for the further drop.
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EUR/USD extends losses toward 1.1000, US PMIs awaited
EUR/USD resumes the downside toward 1.1000 in the European session on Tuesday. The pair stays on a slippery slope, courtesy of the sustained US Dollar recovery, a cautious mood and uncertainty around the ECB's rate outlook. US ISM Manufacturing PMI awaited.
GBP/USD drops back toward 1.3100 ahead of US PMI data
GBP/USD has come under renewed selling pressure, eyeing 1.3100 in European trading on Tuesday. A fresh US Dollar uptick and a risk-averse market environment bode ill for the pair, as traders shift their focus to the US ISM manufacturing PMI data for fresh trading impetus.
Gold seesaws as traders fold their arms ahead of labor market data
Gold trades around $2,500 as risk recedes, markets are calm, and the US Dollar recovers marginally. Traders await US labor market data this week before determining their next moves.
Bitcoin and Ethereum whale activity declines 50% while BTC, ETH accumulation continues
Bitcoin and Ethereum whale activity has slowed down since mid-March 2024 when it hit its peak this year. In March 2024, Bitcoin and Ethereum prices hit a peak of $73,777 and $4,093. The two largest cryptocurrencies have noted a correction in their prices since then.
Week ahead: US labour data and the BoC rate announcement in focus
With US Federal Reserve Chair Jerome Powell’s recent speech at the Jackson Hole Symposium confirming that it is time to begin easing policy as well as underlining the importance of the jobs market, this week’s jobs data may help determine how the Fed approaches its easing cycle.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.