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United Kingdom RICS Housing Price Balance came in at -15%, above forecasts (-18%) in September
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EUR/USD stabilizes above 1.1850 after suffering heavy losses to end the previous week. The pair remains vulnerable to further downside as the US Dollar stays firm following President Donald Trump’s nomination of Kevin Warsh as the next Fed Chair. The focus now shifts to the US ISM Manufacturing PMI data.
GBP/USD clings to small daily gains near 1.3700 after sliding toward 1.3650 earlier in the day. Traders weigh what a Federal Reserve under Kevin Warsh might look like, helping the US Dollar stay resilient against its peers and limiting the pair's upside ahead of the ISM Manufacturing Purchasing Managers Index report from the US.
Gold recovers from the monthly low it touched near $4,400 at the weekly opening but remains in negative territory below $4,800. The precious metal continues its downtrend after reaching historic highs last week as Kevin Warsh's nomination as the next Fed chair eases concerns over the US central bank’s independence, bolstering the US Dollar recovery. US ISM PMI Manufacturing PMI data is awaited.
Bitcoin consolidates above $77,000 after plummeting and testing April’s tariff-triggered lows, as investors remain cautious. Ethereum extends losses toward the psychological $2,000 support amid ETF outflows. XRP holds below its April low at $1.61 as futures Open Interest drops to $2.81 billion.
The first full month of the year is behind us, and, honestly, it has been rather more dramatic than most had anticipated when toasting the New Year. We wrapped up last week with US President Donald Trump announcing his Fed Chair pick.
Bitcoin (BTC) price falls below the $75,000 mark on Monday, having corrected nearly 11% in the previous week and reaching level not seen in nearly 10 months. Market momentum has clearly turned bearish, with technical indicators pointing to further downside toward the next key support at $70,000.
