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Editors’ Picks
EUR/USD struggles to defend corrective bounce off 1.0700
EUR/USD retreats towards 1.0700 amid the early hours of Tuesday’s Asian session after a volatile day. That said, the Euro pair initially cheered the downbeat US data before paring the gains and closing the day around the week-start levels.
GBP/USD recovers above 1.2400 as USD loses strength
GBP/USD has advanced beyond 1.2400 and managed to erase a portion of its daily losses. With the initial reaction to the disappointing ISM Services PMI, which showed a contraction in employment, the US Dollar lost its strength and allowed the pair to reverse its direction.
USD/JPY sits near multi-day peak, around 140.25-30 area amid stronger USD
USD/JPY gains traction for the second straight day on Monday amid broad-based USD strength. Bets for a 25 bps Fed rate hike in June push the US bond yields higher and underpin the buck. Fears of an intervention lend some support to the JPY and could cap further gains for the pair.
Editors’ Picks
AUD/USD holds above 0.6600 ahead of the RBA Premium
AUD/USD rose on Monday ahead of a crucial day for the Aussie with the Reserve Bank of Australia's decision. The central bank is expected to keep rates unchanged at 3.85%, but it's a close call, and a rate hike wouldn't be a major surprise.
EUR/USD struggles to defend corrective bounce off 1.0700
EUR/USD retreats towards 1.0700 amid the early hours of Tuesday’s Asian session after a volatile day. That said, the Euro pair initially cheered the downbeat US data before paring the gains and closing the day around the week-start levels.
Gold grinds higher past $1,950 amid downbeat United States data
Gold stays on the front foot aroud $1,961, after an upbeat start of the week, as the bullion traders seek more clues to extend the latest rebound during early Tuesday in Asia. The precious metal cheered downbeat United States statistics and dicey markets to regain upside momentum the previous day.
TRX, ADA price fall over 5% as Tron and Cardano founders show support for Binance and CEO
Tron (TRX) and Cardano (ADA) prices are down by more than 5% each as the two altcoins follow in the footsteps of Binance Coin (BNB), which fell 10% after the US Securities and Exchange Commission (SEC) filed a civil complaint against Binance and CEO Changpeng Zhao (CZ).
June flashlight for the FOMC blackout period
After raising rates by 500 bps since March 2022, the FOMC signaled at the conclusion of its previous meeting on May 3 that the tightening cycle may be coming to an end.
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