Dale J Pinkert
Independent Analyst
In this edition of TradeGateHub Live Trading, rates continue to rise despite weak economic data. Coach highlights the Weekly TLT chart, which is currently sitting at a critical support level. Meanwhile, Dale provides an update on the structure in the DXY and shares insights into the USDJPY pair. Additionally, Coach discusses developments in WTI crude oil, particularly in the context of a potential nuclear deal with Iran.
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EUR/USD ticks north after discouraging US Retail Sales
EUR/USD remains range-bound around 1.1550 in the American session on Tuesday. The US Dollar retains its overall weakness following an upbeat German ZEW report on Economic Sentiment and an unexpected setback in US Retail Sales.
GBP/USD stays below 1.3600 despite sluggish USD demand
GBP/USD remains on the back foot below 1.3600 in American trading on Tuesday. Caution amid Middle East tensions undermines the mood, yet the US Dollar remains unattractive after worse-than-anticipated US Retail Sales.
Gold price flat lines below $3,400 as traders seem reluctant ahead of the critical FOMC meeting
Gold price extends its intraday directionless price move and remains below the $3,400 mark through the first half of the European session on Tuesday. Traders now seem reluctant and opt to wait for more cues about the Federal Reserve's rate cut path before placing fresh directional bets.
Bitcoin falls slightly as Trump calls security advisors to deal with Iran-Israel war
Bitcoin price declines slightly to around $106,000 on Tuesday following a mild recovery the previous day. Donald Trump leaves the G7 summit early to return to Washington and meet with his national security team.
Chinese data suggests economy on track to hit 2025 growth target
China's May data was mixed with strong retail sales, but soft readings on fixed-asset investment and property price. Overall, though, data suggests that China remains on track to achieve its growth target in the first half of 2025.
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