Analyzes

EUR/USD pushes toward the 1.19 area as strong US growth data and bullish technical signals outweigh concerns over weakening consumer confidence.

EUR/USD closed the second consecutive day in positive territory on Tuesday and touched its highest level since late September above 1.1800 in the Asian session on Wednesday. The pair stays in a consolidation phase in the early European session as trading volumes thin out on Christmas Eve.

Gold (XAU/USD) retreats slightly following an Asian session move higher to the $4,525 area, or a fresh all-time peak, though the downside remains limited amid a supportive fundamental backdrop.

Gold price soared to a fresh all-time high on Tuesday, trading at $4,497 a troy ounce during European trading hours as market players kept dropping the US Dollar (USD).

Gold tests fresh record highs as strong bullish momentum, geopolitical risks, and expectations of US rate cuts continue to support XAU/USD.

EUR/USD maintains an upward technical correction as traders focus on US economic data and growing expectations of Federal Reserve easing.