EUR/NZD may have topped

EUR/USD now loses traction and slips back to the area of daily lows near 1.1630 on the back of the incipient recovery on the US Dollar. On the data front, the ADP weekly report surprised to the upside in the week to November 15 (+4.75K jobs).

GBP/USD is now facing renewed selling pressure and is giving away initial gains, trading at shouting distance of the 1.3300 region amid some pick up in the demand for the Greenback post-ADP data.

Gold maintains its bid bias on Tuesday, although it is now losing some momentum in response to the modest bounce in the US Dollar following firmer prints from the weekly ADP data. Meanwhile, investors continue to see the Fed lowering its interest rates on Wednesday. 

Bitcoin is trading above $90,000 at the time of writing on Tuesday amid sticky risk-off sentiment in the broader crypto market. Altcoins, including Ethereum and Ripple, are paring losses, holding above key support levels. 

The global and European economies have been resilient in recent years even accounting for the modest global slowdown of 2025. But risks for the recovery are rising, underscoring a negative medium-run global macro and credit outlook.

Bitcoin is trading above $90,000 at the time of writing on Tuesday amid sticky risk-off sentiment in the broader crypto market. Altcoins, including Ethereum and Ripple, are paring losses, holding above key support levels.