FxAnalysis

Gold continues to show signs of strength on Monday with the US dollar falling, and the overall outlook for central bank rate cuts, especially in the USA.

The Euro rallied a bit during the early hours on Monday as the markets continue to bet on rates dropping in the USA.

The light sweet crude oil market has been bullish again on Monday, as the markets continue to see an attempt to break higher overall.

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.