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Editors’ Picks
EUR/USD edges higher toward 1.0950 after US PPI data
EUR/USD gains traction and trades in positive territory slightly below 1.0950 in the early American session. The data from the US showed that annual producer inflation softened to 2.2% in July from 2.7% in June, limiting the USD's gains and helping the pair push higher.
GBP/USD trades at fresh weekly highs above 1.2800
GBP/USD extends its recovery and trades at a fresh weekly high above 1.2800 on Tuesday. The upbeat employment data from the UK supports Pound Sterling, while the soft US producer inflation reading for July provides an additional boost to the pair.
Gold holds steady near $2,470 following Monday's upsurge
Gold stays in a consolidation phase at around $2,470 after rising more than 1.5% on Monday. The benchmark 10-year US Treasury bond yield edges lower and stays below 3.9% after US PPI data, allowing XAU/USD to hold its ground.
Sui price is poised for a rally following a retest of the breakout level
Sui (SUI) broke above the falling wedge pattern on Thursday and surged 19% in the subsequent four days, but as of Tuesday, it is experiencing a pullback, trading 4.8% lower at $0.96 at the time of writing.
In the thick of the summer doldrums
We’re in the thick of the summer doldrums and markets have for the most part been confined to some tight consolidation trade. The economic calendar has been rather anaemic as well, further contributing to the uneventful price action.