Forex News

EUR/USD gathered bullish momentum and advanced to its highest level in a month above 1.0800 in the American session on Tuesday. The renewed selling pressure surrounding the US Dollar ahead of Wednesday's key inflation data provides a boost to the pair.

GBP/USD struggles to build on Monday's gains and trades near 1.2550 on Tuesday. The UK data showed that the Unemployment Rate edged higher to 4.3% in the three months to March as forecast. Meanwhile, annual producer inflation in the US rose to 2.2% in April.

Following Monday's decline, Gold stabilizes in positive territory above $2,340 on Tuesday. The benchmark 10-year US Treasury bond yield stays below 4.5% after April producer inflation data, allowing XAU/USD to hold its ground.

Crypto market capitalisation rose 0.8% over the past 24 hours to 2.2 trillion, but growth exceeded 2% for most of the period. However, it dipped at the start of active European trading, temporarily returning to levels of a day ago.

We are entering a crucial period for financial markets and forecasters as Americans' near-term inflation expectations rise again. Upcoming reports on the CPI and PPI for April, along with new data on retail sales and industrial production, will provide valuable insights.