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United States Redbook Index (YoY) down to 5.3% in January 6 from previous 10.2%

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EUR/USD retreats toward 1.0700 ahead of Powell speech
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EUR/USD retreats toward 1.0700 ahead of Powell speech

EUR/USD has lost its traction and declined toward 1.0700 in the early American session on Tuesday. The risk-averse market environment helps the US Dollar holds its ground against its rivals and weighs on the pair as focus shifts to FOMC Chairman Powell’s speech.


EUR/USD News


GBP/USD drops below 1.2150 amid cautious mood


GBP/USD drops below 1.2150 amid cautious mood

GBP/USD extended its downward correction and declined below 1.2150 on Tuesday. The negative shift witnessed in risk sentiment helps the US Dollar find demand and makes it difficult for the pair to regain its traction ahead of FOMC Chairman Powell’s speech.


GBP/USD News


Gold fluctuates in tight range above $1,870


Gold fluctuates in tight range above $1,870

Gold price is having a difficult time gaining traction on Tuesday and moving up and down in a narrow channel above $1,870. Following Monday’s decline, the benchmark 10-year US Treasury bond yield clings to recovery gains near 3.6%, capping XAU/USD’s upside.


Gold News


US, China inflation and reopening impact


US, China inflation and reopening impact

The two largest economies in the world are expected to report inflation figures later this week. But, by far, the US figure is expected to be the most important. The yuan trades within a bound set by the PBOC, which limits the impact that data can have.


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