CRB index reversal: Impact on commodities, inflation, and the Dollar [Video]

EUR/USD stays better bid near 1.1650 in the European session on Tuesday. The prospect of a US interest rate cut on Wednesday keeps the US Dollar under check, underpinning the pair. In the meantime, traders look to the US ADP Employment Change four-week average and Jolts Job Openings reports for September and October. 

GBP/USD attracts some buyers following the previous day's two-way directionless price move and holds steady above the 1.3300 mark in European trading on Tuesday. The pair, however, lacks strong follow-through buying as traders opt to wait on the sidelines ahead of US employment data. 

Gold trades with a negative bias for the third straight day and drops to a one-week low, around the $4,170 region, during the early European session. The downtick lacks any obvious fundamental catalyst and could be attributed to some repositioning trade ahead of the highly anticipated FOMC policy meeting. Investors will keep a close eye on updated economic projections.

Chainlink began the week on a stable footing, trading around $13.70 at the time of writing on Tuesday, holding above a key support zone. Growing ecosystem activity from declining exchange reserves to a wave of new integrations continues to strengthen the network’s fundamental outlook, signalling a rally in the upcoming days.

This week we get a lot of data releases but the biggie is all those central bank decisions. Canada, Australia and Switzerland are expected to stay on hold, but the Fed is expected to cut.

Chainlink (LINK) began the week on a stable footing, trading around $13.70 at the time of writing on Tuesday, holding above a key support zone. Growing ecosystem activity from declining exchange reserves to a wave of new integrations continues to strengthen the network’s fundamental outlook.