California Gov. Lucent says hospitalizations are rising at a slower pace

Ross J Burland FXStreet

California Gov. Newsom said that hospitalizations are rising at a slower pace when he spoke in a press briefing.

California’s trends in tracking the novel coronavirus showed familiar patterns over the weekend, with the majority of new cases coming from Southern California.

As per yesterday's general outlook on the US situation, US cases at a critical mass spells danger for DXY.

R is now above the critical level of 1 in all but five of the US’s 50 states

Fulcrum economists have developed a new model. It suggests that the virus’s effective reproduction number, known as R, is now above the critical level of 1 in all but five of the US’s 50 states.

In an article within the Financial Times, it was argued that the US COVID-19 surge could trigger a double-dip recession: US COVID-19 surge could trigger a double-dip recession – FT

If the DXY continues to unwind, and should there be a breakthrough of the deadlock in the EU's coronavirus rescue package soon, we could see the euro take-off.

The Chart of the Week: EUR/USD to complete a reverse H&S prior to next leg higher?

Additionally, gold is alluring bids to a critical and psychological level on the charts:

Gold marks a conspicuous high invigorating much market scrutiny

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

GBP/USD stays offered near 1.3370

GBP/USD remains on the back foot, slipping back toward the 1.3370 zone on Tuesday. Cable has come under pressure soon after testing the 1.3400 neighbourhood as investors turned more cautious in response to renewed effervescence on the geopolitical front.

EUR/USD slips back to 1.1420, daily lows

EUR/USD now accelerates its daily retracement and revisits the 1.1420 region, or daily troughs. The pair’s decline comes amid the gain of upside momentum in the US Dollar amid renewed tensions in the Strait of Hormuz and a sell-off in Asian technology stocks.

Gold weakens toward $4,100

Gold adds to Monday’s decent pullback and trades close to the $4,100 mark per troy ounce on Tuesday. In the meantime, fresh geopolitical effervescence appear to have reignited inflation concerns, which in turn, limit any recovery attempt from the precious metal.

Bitcoin: BTC struggles despite renewed ETF inflows as Strategy sale impact fades

Bitcoin (BTC) falls below $64,000 on Tuesday, erasing part of the recent gains following six consecutive days of price rises. Institutional demand shows signs of recovery, with spot ETFs recording a second day of inflows through Monday after weeks of outflows.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance, arguing that the current world demands more flexibility.