Dale J Pinkert
Independent Analyst
In today's TradeGATEHub Live Trading session, Coach Dale discusses the resilience of the Euro's bullish technicals despite the results of the French elections. He explores strategies to capitalize on the fading dollar strength anticipated this week due to upcoming Federal Reserve decisions and inflation reports. Additionally, Dale examines why gold and silver lacked follow-through after last week's strong rally, offering insights into the precious metals market dynamics and what traders might expect moving forward.
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EUR/USD started the week with a bearish gap as markets reacted to France election outcome. The pair, however, managed to find its footing and stabilized near 1.0850, with investors refraining from taking large positions ahead of Fed Chairman Powell's testimony on Tuesday.
GBP/USD climbs to multi-week highs near 1.2850
GBP/USD regained its traction and advanced to its highest level since mid-June above 1.2800. The US Dollar struggles to find demand as market focus shifts to Fed Chairman Powell's congressional testimony, allowing the pair to stretch higher.
Gold declines toward $2,370 despite USD weakness
After posting impressive gains on Friday, Gold stays under bearish pressure and falls toward $2,370 on Monday. Reports of China's Central Bank pausing Gold purchases for the second straight month in June weighs on XAU/USD.
Crypto Today: Bitcoin recovers even as German government BTC transfers continue, Ethereum and XRP looking up
Bitcoin trades above $57,000 on Monday even as investors remain fearful amid mounting pressure of German BTC transfers. Ethereum trades above the psychologically important $3,000 level as ETH traders anticipate Spot ETF approval by the SEC.
Five fundamentals for the week: Powell's powerful testimony, politics and inflation figures stand out Premium
How fast is the US economy slowing? That remains the question for investors, eager to see rate cuts – but fearful of recession. After Nonfarm Payrolls figures showed weakness on Friday, a response from the US central bank and inflation data is of interest.