EUR/USD battles higher for second day aided by Yuan defence. Economists at Société Générale analyze the pair’s outlook.EUR/GBP has returned to the lower of the range.The recovery in EUR/USD to over 1.09, helped by intervention in USD/CNY, could be cut short on Wednesday if the preliminary August PMIs disappoint. EUR/GBP meanwhile has returned to the lower of the range. News of the lower-than-estimated UK budget shortfall inevitably rekindles speculation of a growth supportive tax cut in the Budget this autumn or next spring before the 2024 general election.
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EUR/USD clings to gains near 1.0900 ahead of US data, Fedspeak
EUR/USD clings to gains near 1.0900 ahead of US data, Fedspeak
EUR/USD is holding gains near 1.0900, retreating from higher levels in the European session. The pair is reversing gains amid a renewed uptick in the US Dollar, despite the weakness in the US Treasury bond yields. The focus shifts to US housing data and Fedspeak.
EUR/USD News
GBP/USD pares back gains below 1.2800 as US Dollar recovers
GBP/USD pares back gains below 1.2800 as US Dollar recovers
GBP/USD is paring back gains below 1.2800 in the European trading hours. A broad-based US Dollar rebound is weighing on the pair but the downside appears capped amid a risk-on market mood. All eyes now remain on US data and Fedspeak.
GBP/USD News
Gold rebound to lose momentum below $1,920
Gold rebound to lose momentum below $1,920
Gold Price portrays bearish consolidation at the lowest level in five months while defending the week-start rebound amid mixed sentiment. US Dollar’s downbeat performance allows the XAU/USD to pare previous losses at the multi-day bottom.
Gold News
Optimism price emerges as the quickest Ethereum L2 to recover as demand rises by 150%
Optimism price emerges as the quickest Ethereum L2 to recover as demand rises by 150%
Optimism price made its way back up rather quickly; however, it still has a long way to go before it can completely recover all its losses. Interestingly, the altcoin is finding support from its investors at a time when most of the other altcoins are losing the same.
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