That GOLD range contraction is something else. Look out for major volatility ahead.
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EUR/USD hovers above 1.0850 amid dour mood
EUR/USD is oscillating in a tight range above 1.0850 in early Europe on Tuesday. The pair stays cautious due to risk-off sentiment and a modest US Dollar uptick, as investors weigh the ECB and Fed rate cut expectations. The focus now remains on speeches from Fed officials.
GBP/USD extends its upside above 1.2700, investors await fresh catalysts
GBP/USD extends the rally near 1.2710 on Tuesday. Investors await fresh catalysts, with different Federal Reserve speakers set to speak later in the day. On Wednesday, the UK Consumer Price Index inflation data and FOMC Minutes will be closely watched.
Gold needs to defend the 2,400 level, as more Fedspeak looms
Gold price extends pullback from the lifetime high of $2,450 set on Monday, as the US Dollar draws haven demand amid broad risk aversion. Attention again turns toward upcoming speeches from the Federal Reserve policymakers that dominate early this week, in the absence of top-tier US economic events.
New York Attorney General reaches $2 billion settlement with Genesis after claims of fraud
After a lawsuit filed by the New York Attorney General against crypto lender Genesis in late 2023, the company reached a settlement of $2 billion with the AG on Monday.
The market-moving data this week comes from everywhere other than the US
The market-moving data this week comes from everywhere other than the US. We get inflation from the UK, Canada, and Japan, possibly shifting central bank outlooks. The Fed releases FOMC minutes on Wednesday. And we get a slew of PMI’s on Thursday.