Dale J Pinkert
Independent Analyst
EUR/GBP is currently at a major support level, suggesting that EUR/USD may be the more favorable long trade. In this week’s market review, Coach discusses the ongoing U.S. Dollar short setup and the bullish outlook on EUR/USD. He also shares his revised short-term perspective on the 10-year yield and comments on precious metals confirming his forecast for a correction to the downside.
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Editors’ Picks
EUR/USD ticks north after discouraging US Retail Sales
EUR/USD remains range-bound around 1.1550 in the American session on Tuesday. The US Dollar retains its overall weakness following an upbeat German ZEW report on Economic Sentiment and an unexpected setback in US Retail Sales.
GBP/USD stays below 1.3600 despite sluggish USD demand
GBP/USD remains on the back foot below 1.3600 in American trading on Tuesday. Caution amid Middle East tensions undermines the mood, yet the US Dollar remains unattractive after worse-than-anticipated US Retail Sales.
Gold price flat lines below $3,400 as traders seem reluctant ahead of the critical FOMC meeting
Gold price extends its intraday directionless price move and remains below the $3,400 mark through the first half of the European session on Tuesday. Traders now seem reluctant and opt to wait for more cues about the Federal Reserve's rate cut path before placing fresh directional bets.
Bitcoin falls slightly as Trump calls security advisors to deal with Iran-Israel war
Bitcoin price declines slightly to around $106,000 on Tuesday following a mild recovery the previous day. Donald Trump leaves the G7 summit early to return to Washington and meet with his national security team.
Chinese data suggests economy on track to hit 2025 growth target
China's May data was mixed with strong retail sales, but soft readings on fixed-asset investment and property price. Overall, though, data suggests that China remains on track to achieve its growth target in the first half of 2025.
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