Potential for the downside movement on the Gold.
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EUR/USD stays below 1.1000 after EU data
EUR/USD fluctuates in a tight range below 1.1000 in the European session on Monday. The data from the Eurozone showed that Retail Sales rose by 0.2% on a monthly basis in August as forecast, failing to boost the Euro. Investors await comments from Fed officials.
GBP/USD struggles near 1.3100, Fedspeak awaited
GBP/USD is struggling near 1.3100 in European trading on Monday, erasing early gains. The pair is undermined by a negative shift in risk sentiment but the downside appears capped amid the US Dollar retreat ahead of speeches from several Fed policymakers.
Gold price keeps the red below $2,650, remains confined in a familiar trading range
Gold price remains on the defensive amid reduced bets for a 50 bps Fed rate cut in November. The USD consolidates last week’s strong gains and exerts some pressure on the XAU/USD. Geopolitical risks might continue to act as a tailwind and limit losses for the precious metal.
Is Dogecoin ready for a rally?
Dogecoin price extends gains on Monday after retesting its support level last week. This rise is supported by DOGE’s daily active addresses, an on-chain metric that has spiked to the highest level since early April.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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