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EUR/USD grinds higher toward 1.1700 ahead of German ZEW, US CPI
EUR/USD is picking up bids and approaching 1.1700 in the European session on Tuesday. The pair draws support from a broad US Dollar retreat as traders refrain from placing fresh bets on the Greenback ahead of the US CPI inflation data. German ZEW Survey and Eurozone industrial data are also awaited.
GBP/USD: Struggles near multi-week low, around 1.3430 ahead of US CPI
The GBP/USD pair consolidates near the 1.3430-1.3435 region, just above a three-week low touched during the Asian session on Tuesday as traders keenly await the release of the US consumer inflation figure. Meanwhile, the fundamental backdrop seems tilted in favor of bears and suggests that the path of least resistance for spot prices is to the downside.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold price retains intraday positive bias; remains close to multi-week top ahead of US CPI
Gold price sticks to modest intraday gains around the $3,360 region heading into the European session and remains close to a three-week high touched the previous day. The US Dollar eases from a multi-week top amid some repositioning trade ahead of the crucial US consumer inflation figures, which is seen as a key factor acting as a tailwind for the commodity.
BONK rallies as OI hits yearly high, LetsBonk.fun tops Solana launchpad revenue
Bonk continues its bullish momentum, extending gains, trading around $0.000027 on Tuesday after rallying almost 20% the previous week. On-chain and derivatives data paint a bullish picture as BONK’s launchpad has collected the highest weekly revenue, and Open Interest reaches its yearly high.
US stock futures drop Friday after Trump's 35% tariff on Canada Premium
US President Donald Trump's letter to Canada announcing 35% tariffs on its northern neighbor has sent US stock futures lower on Friday. Trump sent the letter late Thursday, which warns Canada and Prime Minister Mark Carney not to retaliate.