EUR/USD: Momentum remains bullish, pointing to further gains.

EUR/USD holds around 1.08. Economists at Scotiabank expect the pair to enjoy further gains.Hawkish ECB policymakers’ talk

“Policymakers are persisting with strong messaging on the policy outlook.”“Minor EUR dips to the 1.08 area remain well-supported and price action appears to be carving out a short-term consolidation ahead of another push higher (bull flag/wedge pattern on the intraday chart).” 

“Momentum remains bullish, limiting EUR losses and pointing to further gains.”“Support is 1.0775/00. Resistance (bull trigger) is 1.0870/75.”

EUR/USD is trading listlessly above 1.0800, unimpressed by the upbeat German and Eurozone ZEW Economic Sentiment data. Solid Treasury yields and broad US Dollar recovery keep the upside capped while hawkish ECB commentary continues to lend support to the Euro.


GBP/USD recaptures 1.2200 as USD recovery stalls

GBP/USD is trading above 1.2200, rebounding from daily lows after the UK labor market report. The UK Jobless Rate steadied at 3.7% in November while the average hourly earnings rose more than expected. The US Dollar rebound fizzles out, helping the pair. 


Gold edges lower amid firmer US Dollar, downside seems limited

Gold price edges lower for the second successive day on Tuesday and moves further away from its highest level since April, around the $1,929 region touched the previous day. The XAU/USD remains depressed heaving into the European session.

Gold News 

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An independent Terra development community, TerraCVita has raised $2 million to fund new DeFi projects on its ecosystem. Terra, which has suffered contagion after the collapse of crypto broker FTX, could see a recovery in its native token Luna Classic’s price. 

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