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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
The British Pound holds onto two-day gains marginally at around 1.3500 against the US Dollar during the Asian trading session. The GBP/USD pair remains firm as the British Pound outperforms despite financial markets pricing out the possibility of an interest rate hike by the Bank of England in the near term.
The EUR/USD pair struggles to gain any meaningful traction, and holds steady around the 1.1545-1.1550 area during the Asian session. Traders seem hesitant to place aggressive bets and opt to wait for further developments surrounding the Middle East crisis and this week's release of the latest US inflation figures.
Gold scales higher for the third consecutive day – also marking the fifth day of a positive move in the previous six – and climbs to its highest level since June 5, around the $4,435 area during the Asian session on Tuesday. Friday's weak US Nonfarm Payrolls report pointed to signs of a cooling labor market and forced investors to scale back their expectations for an immediate interest rate hike by the US Federal Reserve.
Dogecoin shows early signs of a potential recovery, trading near $0.070 on Tuesday as bullish momentum divergence suggests selling pressure may be fading. In addition, whale accumulation and improving derivatives metrics suggest a bullish outlook, hinting at a potential recovery ahead.
