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SP500 – Extended run looks vulnerable as sellers begin to step in [Video]
![SP500 – Extended run looks vulnerable as sellers begin to step in [Video]](https://editorial.fxsstatic.com/images/i/SP500-bearish-withoutbear.jpg)
Potential for the bigger pullback.
Author
Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
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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 climbs further beyond $4,400, touching its highest level since June 5 in the Asian session on Tuesday. Easing Fed rate hike expectations continue to drive flows towards the non-yielding bullion. Meanwhile, inflation risks stemming from volatile oil prices back the case for at least one rate hike in 2026, which supports the US Dollar and might cap the precious metal ahead of the crucial US CPI report on Wednesday.
The broader cryptocurrency market shows mixed sentiment as Bitcoin (BTC) drops to $64,000 under institutional selling pressure. The Fear and Greed Index at 37, down from 40 the previous day, signals renewed bearish pressure. Meanwhile, Curve DAO (CRV) and Internet Computer (ICP) continue to extend their gains so far this week, emerging as top performers over the last 24 hours.
Friday gave metal bulls something to celebrate, with gold confirming a major breakout and silver finally pushing above its consolidation. Still, Monday’s action is a reminder that breaking a level is only half the job - the market now needs to prove it can hold those gains.
The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.
