Summary
Tuesday saw the Euro spike and fade on rumor of a resolution of the Greek issue with funds once more scarce Athens is once again speaking with the Troika setting up the latest ECB meeting into one of more importance than usual. How dovish can Mario Draghi be? What will be this meetings impact on the Euro and what would central bankers signal to the other two legs of the Troika. Join Mark de la Paz as he discusses the issues hounding the European Central Bank.Latest Live Videos
Editors’ Picks
EUR/USD treads water around 1.1900
EUR/USD edges a tad lower around the 1.1900 area, coming under mild pressure despite the US Dollar keeps the offered stance on turnaround Tuesday. On the US data front, December Retail Sales fell short of expectations, while the ADP four week average printed at 6.5K.
GBP/USD looks weak near 1.3670
GBP/USD trades on the back foot around the 1.3670 region on Tuesday. Cable’s modest retracement also comes in tandem with the decent decline in the Greenback. Moving forward, the US NFP and CPI data in combination with key UK releases should kee the quid under scrutiny in the next few days.
Gold loses some traction, still above $5,000
Gold faces some selling pressure on Tuesday, surrendering part of its recent two-day advance although managing to keep the trade above the $5,000 mark per troy ounce. The daily pullback in the precious metal comes in response to the modest rebound in the US Dollar, while declining US Treasury yields across the curve seem to limit the downside.
AI Crypto Update: BankrCoin, Pippin surge as sector market cap steadies above $12B
The Artificial Intelligence (AI) segment is largely on the back foot with major coins such as Bittensor (TAO) and Internet Computer (ICP) extending losses amid a sticky risk-off sentiment.
Dollar drops and stocks rally: The week of reckoning for US economic data
Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.
Here is what you need to know on Tuesday, February 10:
The USD stays resilient against its rivals early Tuesday after suffering large losses on Monday. The US economic calendar will feature Export Price Index, Import Price Index and Retail Sales data for December. Additionally, several Fed policymakers will be delivering speeches.