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EUR/USD continues to push higher toward 1.0800 on broad USD weakness
EUR/USD preserves its bullish momentum and continues to push higher toward 1.0800 on Tuesday. The positive shift witnessed in risk sentiment doesn't allow the US Dollar to find demand and helps the pair push higher. Existing Home Sales will be featured in the US economic docket.
GBP/USD recovers from session lows, trades above 1.2250
GBP/USD has gained traction and recovered above 1.2250 on renewed US Dollar weakness on Tuesday. Ahead of the Fed's and the BOE's policy announcements, however, the pair seems to be having a difficult time gathering bullish momentum.
Gold drops below $1,970 as US yields push higher
Gold price extended its daily slide and declined below $1,970. The benchmark 10-year US Treasury bond yield is up nearly 2% on the day above 3.5% on improving risk mood, forcing XAU/USD to stay under bearish pressure ahead of Fed's policy decisions on Wednesday.
If Fed’s money printer goes brrr… will Bitcoin price hit $1 million?
Bitcoin has taken front and center stage after it restarted its 2023 rally in March. This resurgence of buying pressure pushed BTC to nine-month highs.
FX thoughts for the week
Do central banks face a conflict between their inflation mandate and financial stability? The markets are still grappling with this question and confidence in the financial sector has not fully recovered. For now, central banks are responding with a conditional no.