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EUR/USD retreats below 1.0450 as Lagarde testifies
EUR/USD has lost its bullish momentum and retreated below 1.0450. ECB President Lagarde reiterated that interest rates will remain the main tool to fight inflation. Meanwhile, the risk-averse market environment helps the US Dollar find demand and limits the pair's upside.
GBP/USD turns negative on the day near 1.2050
GBP/USD reversed its direction and broke below 1.2100 in the second half of the day on Monday. With safe-haven flows dominating the financial markets in the early American session, the pair stays under bearish pressure and trades in negative territory near 1.2050.
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Editors’ Picks
Gold drops toward $1,750 as US Dollar rebounds
Gold price has turned south and dropped to the $1,750 area after having climbed above $1,760 earlier in the day. The US Dollar is benefiting from the souring market mood in the early American session, forcing XAU/USD to continue to stretch lower.
Bitcoin price tanks as covid protests erupt in China, pushing investors into risk-off mode
Bitcoin price saw a sudden sell-off on November 28 after a consolidative weekend. This bearish outlook comes as major protests erupt in China due to covid restrictions. Investors seem to be heading into a risk-off mode.
All eyes on US inflation this week
It’s all about inflation this week, US inflation specifically. In order to see the significance of Thursday’s PCE print we need to see the context of the US inflation story.