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EUR/USD holds comfortably above 1.1100 after German sentiment data
EUR/USD stays in daily range above 1.1100 in the European session on Tuesday. The data from Germany showed that the ZEW Survey - Economic Sentiment slumped to 3.6 in September from 19.2 in August, making it difficult for the Euro to gather strength.
GBP/USD defends 1.3200, looks to US Retail Sales for impetus
GBP/USD is holding steady above 1.3200 in the European session on Tuesday. Rising Bets for a 50 bps Fed rate cut keep the US Dollar on the defensive and support the pair. Traders now look to the US Retail Sales to grab short-term opportunities later this Tuesday.
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Editors’ Picks
Gold pulls back on profit-taking ahead of Wednesday's Fed verdict
Gold price ticks lower on Tuesday amid some profit-taking following the recent rise to the all-time peak, though the downside remains cushioned ahead of the all-important Fed interest rate decision due on Wednesday, with markets pricing in a large Fed rate cut.
Bitcoin approaches its $56,000 support level
Bitcoin is approaching a crucial daily support level of $56,000, hinting at a possible recovery. Ethereum faced rejection from the resistance level, suggesting a downward trend with weak momentum. In contrast, Ripple has bounced above the 100-day EMA, indicating a continued upward trend.
Trump's election chances could impact Bitcoin and crypto prices
The Republican presidential candidate has wooed top crypto voices and community members through several actions, including accepting crypto donations and dedicating a part of the GOP platform to cryptocurrencies and blockchain. The former president also announced the launch of a new crypto platform.