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GBP/USD retreats below 1.3050 after UK data
GBP/USD stays on the back foot and trades in negative territory below 1.3050 early Tuesday. The data from the UK showed that the ILO Unemployment Rate declined to 4% in the three months to August, with Employment Change rising 373K, but failed to support Pound Sterling.
EUR/USD drops below 1.0900 amid resurgent USD demand
EUR/USD drifts lower below 1.0900 in European trading on Tuesday. Resurgent US Dollar demand and a cautious risk tone weigh on the main currency pair. Traders now look to Germany's ZEW survey and Eurozone Industrial Production data ahead of Fedspeak.
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Editors’ Picks
Gold price remains depressed amid smaller Fed rate cut bets; lacks follow-through selling
Gold price ticks lower for the second straight day amid smaller Fed rate cut bets and a bullish USD. Signs of a slowdown in China – the biggest bullion consumer – further undermine the XAU/USD.
Bitcoin targets $70,000 as bullish momentum builds
Bitcoin is retesting its key resistance level, and a solid close above this threshold could fuel its ongoing rally. Meanwhile, Ethereum has successfully breached its resistance, signaling potential upward momentum, while Ripple approaches its crucial resistance barrier.
XRP rally likely as Ripple Swell conference is held this week
Ripple trades above $0.5400 early on Monday. The altcoin added over 2% to its value on the day, ahead of a key event. Ripple, a cross-border payment remittance firm, is gearing up for its annual conference called Ripple Swell.