Due to the shift in trend dynamic from bearish to bullish, I see the potential for a further rally.
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EUR/USD gathers strength toward 1.1200 ahead of US data
EUR/USD is picking up fresh bids toward 1.1200 in European trading on Tuesday. The US Dollar struggles to extend recovery, supporting the pair amid improving risk sentiment. The focus now shifts to mid-tier US economic data.
GBP/USD advances above 1.3200 as USD recovery fizzles
GBP/USD is gaining ground above 1.3200 in the European session on Tuesday. Easing concerns over a broader Middle East conflict check the rebound in the safe-haven US Dollar, helping the pair to stay afloat ahead of US sentiment and housing data.
Gold slides on reduced haven demand, better US data
Gold trades marginally lower in the $2,510s on Tuesday as tensions in the Middle East dissipate, reducing haven demand for the yellow metal. This comes after Israel and Hezbollah’s tit-for-tat missile exchange fails to escalate, though ongoing threats from Iran hover.
Markets in a waiting pattern with a potential explosion in volatility – Why?
The weakness of the Dollar tok a breezer but might continue these coming days. il prices steadied further after the strong support level holds the price from falling further. Geopolitical tensions and the end of the month might call for more upside potential here.
Three fundamentals for the week: Focus on the fragility of the US economy Premium
US Consumer confidence data will provide a gauge of how consumers are feeling. Jobless claims are in focus after Fed Chair Powell's dovish speech. Investors will look to the core PCE index to confirm that inflation is falling.
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