Thursday was an interesting day in financial markets. When the dust settled, the stock market had extended gains in an impressive way, all while the US Dollar was rallying. This isn’t the way things normally go, with higher stocks expected to translate to a lower US Dollar.

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EUR/USD remains on the back foot near 1.0650 in European trading on Tuesday. Resurgent US Dollar demand amid a cautious risk tone weighs on the pair. Investors stay wary ahead of the preliminary Eurozone and US business PMI data. 

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GBP/USD eases below 1.2350, UK PMIs eyed

GBP/USD eases below 1.2350, UK PMIs eyed

GBP/USD is dropping below 1.2350 in the European session, as the US Dollar sees fresh buying interest on tepid risk sentiment. The further downside in the pair could remain capped, as traders await the UK PMI reports for fresh trading impetus. 

GBP/USD News

Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets

Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets

Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.

Gold News

PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange

PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange

Pendle is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin price.

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Focus on April PMIs today

Focus on April PMIs today

In the euro area, focus today will be on the euro area PMIs for April. The previous months' PMIs have shown a return of the two-speed economy with the service sector in expansionary territory and manufacturing sector stuck in contraction. 

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