Leading indicators are lagging and the fastest, incomplete reports are becoming more relevant, as US jobless claims have proved. Valeria Bednarik, Joseph Trevisani, and Yohay Elam examine the indicators to watch in coronavirus times.
Don't miss! Coronavirus: Why the dollar has more room to recover and rally
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FXStreet Team
FXStreet
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EUR/USD comes under pressure and retreats for the fourth day in a row on Tuesday, coming closer to the key 1.1600 neighbourhood amid a decent rebound in the US Dollar ahead of the largely expected 25 basis point rate cut by the Federal Reserve on Wednesday.
GBP/USD eased back toward the midrange on Tuesday, shedding around one-fifth of one percent after facing an intraday technical rejection from the 1.3350 level. Price action has slumped back into the 1.3300 handle and is holding just north of the long-term 200-day Exponential Moving Average near 1.3250 as markets hunker down for the last Federal Reserve (Fed) interest rate decision of 2025.
Gold is still holding a positive tone around the $4,200 zone per troy ounce on Tuesday, though it’s starting to lose a bit of steam as the US Dollar finds support from stronger-than-expected jobs data. Even so, markets remain confident the Fed will move ahead with a rate cut on Wednesday, which ultimately lends support to the yellow metal.
Ethereum is up 6% on Tuesday following increased whale buying activity and President Donald Trump's remarks concerning the next Federal Reserve Chair.
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.
