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EUR/USD rises toward 1.0900 as US Dollar weakness persists
EUR/USD is advancing toward 1.0900, closing in on two-week highs in early Europe on Tuesday. Extended US Dollar weakness and an upbeat mood contribute to the pair's latest uptick. The focus now remains on more Fedspeak.
GBP/USD consolidates gains below 1.2800, awaits fresh catalysts
GBP/USD consolidates its upside below 1.2800, sitting at two-month highs early Tuesday. The pair stays afloat, as the US Dollar remains on the back foot amid improving risk sentiment. Fedspeak remains in the spotlight, in the absence of top-tier economic data.
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Editors’ Picks
Gold price rebounds on weaker US Dollar, investors await US key data
Gold price edges higher on Tuesday after bouncing off two-week lows of $2,325. The uptick of yellow metal is bolstered by the softer US Dollar and safe-haven flows amid the ongoing geopolitical tensions in the Middle East.
Bitcoin wallet tagged as Mt.Gox transferred nearly $2.93 billion in BTC, the asset hovers at around $68,000
Bitcoin hovers around the $68,000 level on May 28, Tuesday as market participants brace for Mt.Gox transfers of BTC. The defunct crypto exchange’s wallet, tracked by on-chain intelligence trackers, have made BTC transfers to a new wallet.
Trading the week ahead
This week is set to be a relatively quiet week. On Tuesday, US consumer confidence figures will be released. Given the context of recent firmer US PMI data and hawkish FOMC minutes, a stronger consumer confidence report could reinforce dollar strength.