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EUR/USD remains pressured below 1.0800, US data eyed
EUR/USD is trading under pressure below 1.0800 in European trading on Friday. A renewed US Dollar uptick and a cautious mood weigh on the pair, as traders digest the Trump win and the Fed rate cut ahead of the US preliminary Consumer Sentiment data for November.
GBP/USD holds lower ground near 1.2950 amid tepid risk sentiment
GBP/USD edges lower toward 1.2950 in the early European session on Friday. The emergence of dip-buying in the US Dollar and a tepid risk tone undermine the pair. The BoE’s cautious rate cut could check the pair's downside, as traders look to BoE-speak, US data for fresh incentives.
Gold appears stuck between key technical levels, what’s next?
Gold price has returned to the red early Thursday after reversing more than half of the Trump win-led 3% slide on Wednesday. Gold sellers fight back control, as the US Dollar finds its feet amid a pause in the US Treasury bond yields sell-off while awaiting the Michigan preliminary Consumer Sentiment data.
Bitcoin touches new all-time high near $77,000 following Fed rate cut
Bitcoin price rallied and reached a new all-time high of $76,849 following the US Federal Reserve’s 25 basis point rate cut. Ethereum and Ripple followed suit and closed above their key resistance levels, hinting at a possible rally ahead.
Outlook for the markets under Trump 2.0
On November 5, the United States held presidential elections. Republican and former president Donald Trump won the elections surprisingly clearly. The Electoral College, which in fact elects the president, will meet on December 17, while the inauguration is scheduled for January 20, 2025.
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