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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.
GBP/USD comes under extra selling pressure and revisits the area of multi-day lows near 1.3420 in quite a bearish start to the week. Cable’s decline comes amid the firmer Greenback as investors continue to assess developments in the US-Iran conflict. Moving forward, attention will turn to the UK employment report on Tuesday.
EUR/USD keeps the bearish bias well in place, slipping back toward the 1.1400 region, where some initial support appears to have turned up. The auspicious start to the week of the US Dollar has kept the risk complex under pressure as investors has continued to closely follow developments from the Middle East conflict. The release of the ZEW Economic Sentiment in the Euroland and Germany are next on tap on the domestic calendar.
Gold holds steady above $4,000 during the Asian session on Tuesday, though the upside potential seems limited. Inflation fears stemming from elevated oil prices reaffirm bets for higher US interest rates, which, along with an escalation in the Middle East war, continue to underpin the safe-haven US Dollar. This should act as a headwind for the non-yielding bullion, warranting caution for bullish traders before positioning for any meaningful gains.
