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EUR/USD drops toward 1.0900 as USD recovery continues
EUR/USD stays on the back foot and trades in negative territory near 1.0900 on Tuesday. The US Dollar rebounds following Monday's intense selloff, causing the pair to stretch lower. In the absence of high-tier data releases, market participants will stay focused on geopolitics.
GBP/USD falls to multi-week lows below 1.2700
GBP/USD stays under bearish pressure and trades at its lowest level since early July below 1.2700 on Tuesday. The renewed US Dollar strength and the cautious market stance, despite a rebound seen in US stock index futures, forces the pair to extend its downtrend.
Gold struggles to gather directional momentum, holds above $2,400
Gold fluctuates in a relatively tight channel above $2,400 following Monday's highly volatile action. The recovery seen in the US Treasury bond yields limits XAU/USD's upside while investors keep a close eye on news surrounding the Iran-Israel conflict.
Bitcoin to have a relief rally before continuing downtrend
Bitcoin (BTC) price recovers above $55,00 on Tuesday after the sharp decline seen since the end of July. Economist Jeremy Siegel has called for emergency interest rate cuts after the recent market crash.
Falling knives have hit the floor
We've caught a brief respite as some falling knives finally hit the floor. A dash of soothing words from Fed officials, particularly Daly, has begun to calm the market's frayed nerves.