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EUR/USD struggles to recover above 1.1000 ahead of Fedspeak
EUR/USD holds ground on upbeat German Industrial Production data on Tuesday but finds it difficult to clear the 1.1000 hurdle. In the absence of high-tier macroeconomic data releases from the US, investors will pay close attention to comments from central bankers.
GBP/USD holds steady near 1.3100 as mood sours
GBP/USD trades in a tight channel at around 1.3100 following Monday's decline. The negative shift seen in risk mood doesn't allow the pair to gather recovery momentum as investors await comments from Federal Reserve policymakers.
Gold recovers from weekly lows, trades near $2,650
After falling to a fresh weekly low below $2,630 earlier in the day, Gold gains traction and recovers to the $2,650 area. The precious metal benefits from the negative shift seen in risk mood as geopolitical tensions remain high.
Ripple price shows signs of weakness
Ripple price stabilizes around $0.530 and trades within a tight range for the fourth day in a row on Tuesday. After breaking below its ascending trendline last week, XRP’s price was rejected from its daily resistance level on Monday.
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.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.