- EUR/USD looks for direction near 1.0600 after steep sell-off to 1-year low
- GBP/USD tumbles to 3-month low; near oversold levels
- Gold reverses October’s rally; set for some consolidation
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EUR/USD stays near 1.0500 after upbeat US data
EUR/USD continues to trade in a narrow range at around 1.0500 on Tuesday. The data from the US showed that job openings rose more than expected in October, helping the US Dollar hold its ground and limiting the pair's upside. Investors await comments from Fed officials.
GBP/USD trades below 1.2700 as focus shifts to Fedspeak
GBP/USD loses its recovery momentum and retreats to the 1.2650 area after rising toward 1.2700 earlier in the day. The US Dollar stays resilient against its rivals on upbeat JOLTS Job Openings data and makes it difficult for the pair to regain its traction as focus shifts to Fedspeak.
Gold keeps struggling for direction
Following Monday's retreat, Gold stabilizes and trades in a narrow band below $2,650. The benchmark 10-year US Treasury bond yield stays flat near 4.2% ahead of Fedspeak, making it difficult for XAU/USD to gather directional momentum.
Chainlink holds near three-year high fueled by EU tokenized securities partnership
Chainlink (LINK) price trades slightly down around $25.50 on Tuesday following a 33% rally that was spurred by its partnership with Frankfurt-based fintech 21X for Europe’s first tokenized securities trading and settlement system.
The fall of Barnier’s government would be bad news for the French economy
This French political stand-off is just one more negative for the euro. With the eurozone economy facing the threat of tariffs in 2025 and the region lacking any prospect of cohesive fiscal support, the potential fall of the French government merely adds to views that the ECB will have to do the heavy lifting in 2025.
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