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Editors’ Picks
EUR/USD holds firm near 1.1600 as focus shifts to Powell
The EUR/USD continues to consolidate near weekly highs above 1.1600 early in the American session on Tuesday. Markets remain optimistic following news of the Iran-Israel ceasefire, although Iran’s response remains unclear. Powell’s prepared remarks show the Fed is focused on controlling inflation, not Trump’s wishes.
GBP/USD consolidates around 1.3600 ahead of Powell, Bailey
GBP/USD hovers around 1.3600 as American traders reach their desks. The broad US Dollar weakness prevails as market participants await words from BoE’s Governor Bailey and Fed Chair Powell. Powell’s pre-prepared remarks already out, had no actual impact on financial boards.
Gold nears $3,300 as Fed Powell testifies before Congress
Gold price maintains its heavily offered tone early in the American session, approaching the $3,300 threshold on news indicating easing Middle East tensions. The ceasefire between Iran and Israel revived risk-on flows, to the detriment of the bright metal. Fed’s Powell testimony before Congress coming up next.
Bitcoin recovers as Iran-Israel ceasefire fuels risk-on sentiment
Bitcoin price stabilizes around $105,000 on Tuesday after a 4.33% gain on Monday, driven by easing geopolitical and regulatory concerns. Global risk appetite is increasing as the ceasefire between Iran and Israel, along with the Fed’s softer stance on crypto-related banking, takes hold.
Could Iran block the Strait of Hormuz? Why Oil is on edge after US strikes
As the Israel-Iran conflict reaches new heights, an old threat is coming back to haunt the markets: that of the closure of the Strait of Hormuz. This narrow arm of the sea in the Persian Gulf, wedged between Iran to the north and the United Arab Emirates and Oman to the south, is much more than a simple sea passage.
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Elroy Fetzer