The ongoing wave of less dovish Fed speak has been having an impact on yield differentials, with odds for rate cuts in 2024 coming back down to 48 basis points from 61 basis points this past Friday. Tuesday’s calendar features Fed speak, Canada inflation, the Chicago Fed National Activity Index, US Case Shiller, US house prices, US consumer confidence, and Richmond Fed manufacturing.

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Editors’ Picks

EUR/USD bounces off lows, approaches 1.1550

EUR/USD bounces off lows, approaches 1.1550

EUR/USD continues to recover ground lost and now extends the rebound to the 1.1550 zone on Friday. Meanwhile, the US Dollar maintain its bullish bias intact in response to a significant flight to safety amid increasing geopolitical concerns, while positive consumer sentiment data also contribute to the daily uptick.

Gold keeps the trade above $3,400 on safe-haven demand

Gold keeps the trade above $3,400 on safe-haven demand

Gold prices maintain its upward trajectory on Friday, reaching its peak level since late April above the $3,400 mark per troy ounce. Furthermore, the precious metal draws increased safe-haven interest amid escalating tensions in the Middle East, triggered by Israel's military action against Iran.

GBP/USD trims losses, retargets 1.3600

GBP/USD trims losses, retargets 1.3600

After an earlier dip toward the 1.3520 area, GBP/USD has regained some composure, trading within sight of the key 1.3600 barrier as the week draws to a close. The pair remains under pressure on Friday, weighed down by renewed US Dollar strength amid rising risk aversion and a stronger-than-expected consumer confidence report.

Crypto Today: Bitcoin, Ethereum, XRP clamber for support amid escalating volatility on Israel-Iran tensions

Crypto Today: Bitcoin, Ethereum, XRP clamber for support amid escalating volatility on Israel-Iran tensions

The cryptocurrency market has been hit by a sudden wave of extreme volatility, triggering widespread declines as global markets react to tensions between Israel and Iran. Bitcoin is hovering at around $104,668 at the time of writing on Friday, following a reflex recovery from support tested at $102,513.

Week ahead – Markets brace for central bank barrage amid heightened uncertainty

Week ahead – Markets brace for central bank barrage amid heightened uncertainty

Fed officials to stand pat as they await further clarity. A dovish BoJ could push rate hike expectations into 2026. Deflation fuels speculation about negative SNB rates. BoE may sound more dovish after disappointing UK data.

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