OCEAN/USDT Exchange rate

The increasing demand for the US Dollar is increasing, bringing the US Dollar Index (DXY) to new highs and pulling EUR/USD to three-week lows near 1.1620, opening the door to a potential test of the 1.1600 support. The solid US CPI figure maintained the Fed's cautious narrative, giving the Greenback more traction to the disadvantage of risk assets.

The Sterling’s downward trajectory continues unabated. That said, GBP/USD breaches below the key 1.3400 support and trades at shuting distance from four-week lows on Tuesday as sentiment towards the Greenback strengthens. Later in the day, investors are expected to follow Governor Bailey and Chancellor Reeves speeches at the Mansion House.

Gold prices manage to revert the initial pullback to the vicinity of the $3,330 zone per troy ounce, regaining some composure and returning to the $3,350 area amid acceptable gains, a stronger US Dollar and a solid performance of US yields.

Pi Network edges lower by 2% at press time on Tuesday, failing to join the bandwagon of altcoins fueled by Bitcoin reaching record high levels. The increasing supply pressure on Centralized Exchanges and the token unlocks fuel the declining trend in PI token, resulting in a retest of the $0.4460 support level.

China's second-quarter GDP beat forecasts again with a 5.2% year-on-year growth, driven by strong trade and industrial production. Yet sharper-than-expected slowdowns in fixed-asset investment and retail sales and falling property prices are a concern.