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Editors’ Picks
EUR/USD trades deep in red below 1.0550 after German CPI
EUR/USD continues to trade deep in negative territory below 1.0550 following the sharp decline witnessed in the European session. The data from Germany showed that the annual CPI declied to 8.6% in December from 10% in November, not allowing the Euro to stage a rebound.
GBP/USD recovers modestly, trades near 1.1950
GBP/USD fell sharply and touched its lowest level in over a month near 1.1900 before recovering toward 1.1950. Despite the risk-positive market environment, the US Dollar continues to gather strength against its rivals and limit’s the pair’s rebound.
Gold retreats from multi-month highs, holds above $1,830
Gold price advanced to its highest level since June at $1,850 on Tuesday but lost its bullish momentum amid renewed US Dollar strength. With the benchmark 10-year US Treasury bond yield losing more than 1% on the day, however, XAU/USD manages to stay in positive territory above $1,830.
No more festive cheer
The IMF is among those warning of a tough year, more so than the one we’ve just left, as the simultaneous slowing down of the US, EU, and China takes its toll.