On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1918, as compared to Friday's fix of 7.1942 and 7.2257 Reuters estimates.
Author
Haresh Menghani
FXStreet
Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.
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EUR/USD comes under pressure and retreats for the fourth day in a row on Tuesday, coming closer to the key 1.1600 neighbourhood amid a decent rebound in the US Dollar ahead of the largely expected 25 basis point rate cut by the Federal Reserve on Wednesday.
GBP/USD eased back toward the midrange on Tuesday, shedding around one-fifth of one percent after facing an intraday technical rejection from the 1.3350 level. Price action has slumped back into the 1.3300 handle and is holding just north of the long-term 200-day Exponential Moving Average near 1.3250 as markets hunker down for the last Federal Reserve (Fed) interest rate decision of 2025.
Gold price bounces off $4,200 in the Asian session on Wednesday. The precious metal finds fresh demand as traders seek safety ahead of the Fed verdict, with a 25 bps rate cut fully priced in. However, a hawkish stance on future monetary policy outlook cannot be ruled out.
Ethereum is up 6% on Tuesday following increased whale buying activity and President Donald Trump's remarks concerning the next Federal Reserve Chair.
The global and European economies have been resilient in recent years even accounting for the modest global slowdown of 2025. But risks for the recovery are rising, underscoring a negative medium-run global macro and credit outlook.
Bitcoin is trading above $90,000 at the time of writing on Tuesday amid sticky risk-off sentiment in the broader crypto market. Altcoins, including Ethereum and Ripple, are paring losses, holding above key support levels.
