Fundamental

The GBP/USD pair meets with some supply on Tuesday and erodes a part of the previous day’s strong gains to the 1.3700 mark due to UK-specific concerns.

Bitcoin price held steady above the key psychological level at $70,000 as volatility in the market dropped and a risk-on sentiment prevailed. The BTC/USD pair was trading at 70,800, up sharply from the year-to-date low of 60,100.

EUR/USD gathered bullish momentum on Monday and rose more than 0.8%, erasing the previous week’s losses in the process. The pair struggles to build on the latest rally and trades in a tight range at around 1.1900 in the European morning on Tuesday.

Gold is holding its pullback from three-day highs of $5,087 reached on Monday, as buyers take a breather early Tuesday, gearing up for the top-tier US Retail Sales data due later in the day.

EUR/USD is finding its footing again, pushing to multi-day highs as it claws back part of the ground lost during last week’s so-called “Warsh trade” and turns its attention back toward the key 1.2000 area.

Spot Gold extends its Friday’s momentum at the beginning of the new week, and trades around $5,070 a troy ounce in the American session. The bright metal takes advantage of broad weakness in the US Dollar (USD) and gains ground despite a generally optimistic market mood.