EUR/USD continues to be caught in chart churn as traders await Wednesday's HCOB PMIs and US ADP jobs figure. The currency pair is facing a lack of clear direction as it navigates through key economic data releases.
Meanwhile, the Judo Bank Australian Services PMI has ticked higher to 51.2, slightly above the previous reading of 51.0. This slight improvement could potentially provide some support for the Australian Dollar in the near term.
GBP/USD has extended its upside above 1.2650 as traders keep a close eye on upcoming US data and the release of the FOMC Minutes. The pair is likely to remain volatile as market participants digest new information.
Crude Oil experienced some churn on Tuesday, but losses were limited following a steep API drawdown. The commodity continues to face uncertainty as global economic conditions fluctuate.
Gold prices fell amid falling US yields and a softer US Dollar. The precious metal remains sensitive to changes in the broader market sentiment.
Silver, on the other hand, has shown signs of a potential 'double bottom' formation as XAG/USD creeps higher. This technical pattern could signal a shift in momentum for the commodity.
Overall, the market is experiencing mixed movements across various currency pairs and commodities. Traders should remain cautious and closely monitor key economic indicators and geopolitical events for trading opportunities.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
Meanwhile, the Judo Bank Australian Services PMI has ticked higher to 51.2, slightly above the previous reading of 51.0. This slight improvement could potentially provide some support for the Australian Dollar in the near term.
GBP/USD has extended its upside above 1.2650 as traders keep a close eye on upcoming US data and the release of the FOMC Minutes. The pair is likely to remain volatile as market participants digest new information.
Crude Oil experienced some churn on Tuesday, but losses were limited following a steep API drawdown. The commodity continues to face uncertainty as global economic conditions fluctuate.
Gold prices fell amid falling US yields and a softer US Dollar. The precious metal remains sensitive to changes in the broader market sentiment.
Silver, on the other hand, has shown signs of a potential 'double bottom' formation as XAG/USD creeps higher. This technical pattern could signal a shift in momentum for the commodity.
Overall, the market is experiencing mixed movements across various currency pairs and commodities. Traders should remain cautious and closely monitor key economic indicators and geopolitical events for trading opportunities.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
