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EUR/USD stays in daily range near 1.0800 after US PPI data
EUR/USD continues to fluctuate at around 1.0800 in the second half of the day on Tuesday. The data from the US showed that the annual producer inflation rose to 2.2% in April as expected, helping the USD stay resilient against its rivals and limiting the pair's upside.
GBP/USD holds steady at around 1.2550 ahead of Powell speech
GBP/USD struggles to build on Monday's gains and trades near 1.2550 on Tuesday. The UK data showed that the Unemployment Rate edged higher to 4.3% in the three months to March as forecast. Meanwhile, annual producer inflation in the US rose to 2.2% in April.
Gold clings to daily recovery gains above $2,340
Following Monday's decline, Gold stabilizes in positive territory above $2,340 on Tuesday. The benchmark 10-year US Treasury bond yield stays below 4.5% after April producer inflation data, allowing XAU/USD to hold its ground.
Ethereum knocking at support’s door
Crypto market capitalisation rose 0.8% over the past 24 hours to 2.2 trillion, but growth exceeded 2% for most of the period. However, it dipped at the start of active European trading, temporarily returning to levels of a day ago.
Entering a crucial run of data for financial markets
We are entering a crucial period for financial markets and forecasters as Americans' near-term inflation expectations rise again. Upcoming reports on the CPI and PPI for April, along with new data on retail sales and industrial production, will provide valuable insights.