United States Personal Consumption Expenditures - Price Index (MoM) meets expectations (0%) in May

EUR/USD faces some renewed selling pressure, always below the 1.1700 mark and navigating a tight range on the back of a decent uptick in the US Dollar. In the meantime, investors remain cautious ahead of the release of the key US inflation data tracked by the CPI.

GBP/USD struggles for direction and slips back to the lower end of the range near 1.3460 on turnaround Tuesday. Cable trades in a narrow range amid a bid bias in the Greenback ahead of the publication of the December US CPI prints.

Gold remains on the defensive below the $4,600 mark through the first half of the European session though it remains close to the all-time peak, touched the previous day, amid a supportive fundamental backdrop. The US Dollar gains some positive traction following the previous day's decline and turns out to be a key factor acting as a headwind for the commodity.

The US Bureau of Labor Statistics will publish December’s Consumer Price Index report on Tuesday at 13:30 GMT. The report is expected to show that prices remained broadly stable in the last month of 2025. It’s a key read on inflation and could stir some short-term moves in the US Dollar.

News broke on Sunday night that the Federal Reserve received grand jury subpoenas from the Department of Justice on Friday, escalating the Trump administration's pressure on the nation's central bank. 

Meme coins, including Dogecoin, Shiba Inu, and Pepe remain under extreme selling pressure, recording roughly seven days of downtrend following the January 4 spike. The meme coins risk a bearish shift in momentum as buying pressure subsides, potentially leading to further declines.