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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 recovers ground and tests 1.3450 in early Europe on Tuesday. The UK ILO Unemployment Rate remained at 4.9% in the three months to May, compared with expectations of 5%, but fails to provide any impetus to the British Pound's renewed uptick. Traders stay cautious amid US-Iran uncertainty and the UK political transition.
The EUR/USD pair is seen consolidating during the Asian session on Tuesday and trading just above the 1.1400 mark, or a four-day low touched the previous day. Market participants seem hesitant and keenly await the highly-anticipated European Central Bank meeting on Thursday before positioning for the next leg of a directional move.
Gold is building on its recovery from two-week lows of $4,024 reached last Friday, extending the winning streak into a third straight day on Tuesday. XAU/USD is capitalizing on the ongoing pullback in Oil prices from monthly highs near $84.50. The black gold is retreating for a second day in a row on emerging signs of diplomatic efforts to ease the US-Iran conflict.
Ripple and Stellar trade within tight ranges as traders await the next directional move. XRP’s technical indicators suggest bearish momentum is fading, while XLM continues to consolidate near a critical support zone. Mixed derivatives metrics highlight growing market indecision, raising the likelihood of a volatile breakout in either direction in the coming days.
