Elliott Wave: Oil short term may see more downside [Video]

The US Dollar is finding some near-term demand after the release of the US Q3 GDP. According to the report, the economy expanded at an annualized rate of 4.3% in the three months to September, well above the 3.3% forecast by market analysts.

GBP/USD maintains its positive momentum in the American session on Tuesday, and trades at levels last seen in October. The US Dollar remains under persistent bearish pressure heading into the Christmas break, while Pound traders largely brush off the latest interest rate cut from the Bank of England.

Gold prices soared to $4,497 on Monday, as persistent US Dollar weakness and thinned holiday trading exacerbated the bullish run. The bright metal eases following the release of an upbeat US Q3 GDP reading, but overall, the report is doing little for the Greenback.

Bitcoin remains under pressure, trading above the $87,000 support at the time of writing on Tuesday. Selling pressure has continued to weigh on the broader cryptocurrency market since Monday, triggering declines across altcoins, including Ethereum and Ripple.

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.