Market participants have turned cautious mid-week amid growing concerns over the US debt-limit bill facing resistance at both chambers of Congress after the House Rules Committee advanced it by a slim 7-6 margin on Tuesday. The US Dollar (USD) benefits from risk aversion mid-week ahead of JOLTS Job Openings data for April and Fedspeak. In the European session, Germany’s Destatis will publish inflation data for May.

Reflecting the souring market mood, US stock index futures are down between 0.35% and 0.45%. The US Dollar Index edges higher toward 104.50 following Tuesday slide and the benchmark 10-year US Treasury bond yield is already losing 1% on the day below 3.7%.

During the Asian trading hours, the data from China revealed that the business activity in the manufacturing sector continued to contract at a slightly faster pace in May than in April with the NBS Manufacturing PMI falling to 48.8 from 49.2. In the same period, the Non-Manufacturing PMI declined to 54.5 from 56.4 but came in much higher than the market expectation of 50.7.

AUD/USD came under bearish pressure in the Asian session and the pair was last seen trading at its lowest level since early November below 0.6500. The data published by the Australian Bureau of Statistics revealed on Wednesday that the Consumer Price Index (CPI) rose 6.8% on a yearly basis in April, higher than 6.3% recorded in March. While testifying before the Senate Economics Legislation Committee, Reserve Bank of Australia (RBA) Governor Philip Lowe reiterated that entrenched inflation would lead to higher interest rates and unemployment but these comments failed to help the Aussie find a footing.

EUR/USD rose toward 1.0750 and closed in positive territory on Tuesday. The renewed USD strength, however, weighed on the pair early Wednesday and dragged it back below 1.0700. In Germany, the annual Harmonized Index of Consumer Prices is forecast to rise 6.8%, compared to 7.6% in April.

USD/CAD gathered bullish momentum and advanced to the 1.3650 area early Wednesday. Later in the day, first-quarter Gross Domestic Product (GDP) growth from Canada will be watched closely by market participants.

USD/JPY closed the second straight day in negative territory on Tuesday and continued to stretch lower early Wednesday, pressured by falling US T-bond yields.  The pair was last seen trading slightly above 139.50.

GBP/USD held steady above 1.2400 on Tuesday but lost its traction mid-week. The pair stays on the back foot in the European morning and pushes lower toward 1.2350.

Gold price benefited from retreating US yields on Tuesday and rose toward $1,960. XAU/USD consolidates its recent gains on Wednesday and fluctuates above $1,950.

Bitcoin turned south early Wednesday and fell toward $27,000, losing more than 2% on the day. Ethereum registered marginal gains on Tuesday but reversed its direction on Wednesday. At the time of press, ETH/USD was down more than 1% on the day at $1,870

The US Dollar (USD) continues to gather strength against its rivals as trading conditions normalize following Monday’s subdued action. The US Dollar Index sits at its highest level since mid-March near 104.50 ahead of the Conference Board’s Consumer Confidence report for May and Housing Price Index data for March. The European economic docket will feature business and consumer sentiment surveys.

US Consumer Confidence Preview: Confidence remains down, but DXY aims up.

Following Sunday’s agreement between US President Joe Biden and Republican House Speaker Kevin McCarthy to suspend the debt limit, the House Rules Committee and the House is expected to vote on the bill on Tuesday and Wednesday, respectively. Meanwhile, Biden will reportedly hold calls with Democratic members of the House ahead of the vote.

Reflecting the positive impact of this development on risk mood, US stock index futures are up between 0.2% and 0.6% in the European trading hours. The Euro Stoxx 50 Index, however, trades virtually unchanged on the day.

EUR/USD registered small losses on Monday and continued to stretch lower early Tuesday. The par was last seen trading at its weakest level in 10 weeks below 1.0700. Earlier in the session, the data from Spain showed that the annual Harmonized Index of Consumer Prices declined 0.2% on a monthly basis in May, dragging the annual increase lower to 2.9% from 3.8% in April.

Despite the persistent USD strength, GBP/USD manages to keep its footing on Tuesday and extends its sideways grind near 1.2350.

After rising toward 141.00 during the Asian trading hours on Tuesday, USD/JPY reversed its direction and fell sharply. At the time of press, the pair was trading in negative territory below 140.50. Earlier in the day,  “the Bank of Japan (BoJ) will patiently maintain the easy monetary policy as there is still a distance to go to stable 2% inflation,” said BoJ Governor Kazuo Ueda.

Gold price slumped to its lowest level since early March near $1,930 on Tuesday but reversed its direction in the European morning. With the benchmark 10-year US Treasury bond yield losing nearly 1% below 3.8%, XAU/USD erased its daily losses and turned flat above $1,940.

Bitcoin failed to build on Sunday’s gains and posted marginal losses on Monday. BTC/USD holds steady above $27,500 early Tuesday. Similarly, Ethereum lost nearly 1% on Monday but managed to stabilize near $1,900.

Following the choppy action witnessed ahead of the weekend, financial markets stay relatively calm early Monday amid thin trading conditions. UK markets are closed due to the Spring Bank Holiday and American traders will be enjoying a long weekend on Memorial Day. Later in the week, several high-tier data releases, including European inflation figures and the US jobs report, will likely ramp up volatility.

Over the weekend, US President Joe Biden and Republican House Speaker Kevin McCarthy reached an agreement to temporarily suspend the debt-limit to avoid a US debt default. The House of Representatives and Senate still need to approve the deal, which will suspend the $31.4 trillion debt-ceiling until January 1, 2025, in coming days. The market reaction to this development, however, is likely to be observed early Tuesday when US stock index futures and US bond markets return to action.

In the meantime, the US Dollar Index (DXY) rose 1% last week and registered gains for the third straight week. Early Monday, the DXY fluctuates in a tight channel at around 104.00.

EUR/USD managed to shake off the bearish pressure on Friday but still ended up losing more than 100 pips on a weekly basis. The pair edges slightly higher in the European morning and trades below 1.0750.

GBP/USD seems to have gone into a consolidation phase at around 1.2350 at the beginning of the week following last week’s slide.

USD/JPY added nearly 300 pips last week and registered its highest weekly close since October above 140.00. The pair moves up and down in a narrow band near 140.50 in the European morning. In the early Asian session on Tuesday, April Unemployment data from Japan will be looked upon for fresh impetus.

Gold price fell sharply last week and touched its weakest level in over two months below $1,940. XAU/USD struggles to gather recovery momentum early Monday and continues to trade below $1,950.

Bitcoin rose nearly 5% on Sunday and broke out of the two-week-old trading channel. BTC/USD, however, lost its traction after meeting resistance at $28,500 early Monday and retreated below $28,000. Following a quiet start to the weekend, Ethereum gathered bullish momentum and advanced to a fresh three-week high above $1,900 on Sunday before staging a technical correction on Monday.

The US Dollar (USD) continues to gather strength against its major rivals on Thursday and the US Dollar Index trades at its strongest level since mid-March above 104.00. In the second half of the day, the US Bureau of Economic Analysis will release the first revision to the first-quarter Gross Domestic Product (GDP) growth. The US economic docket will also feature weekly Initial Jobless Claims and Pending Home Sales data for April.

The risk-averse market environment amid the uncertainty surrounding the outcome of the US debt-limit negotiations helped the USD outperform its rivals mid-week. US House Speaker Kevin McCarthy reassured on Wednesday that the US would avoid a default but noted that they had still a difference over spending.

Hawkish comments from Fed Governor Christopher Waller, who said that he would not support stopping rate hikes unless there was clear evidence that inflation was moving down towards the 2% objective, provided an additional boost to the currency. In the late American session, the minutes of the Fed’s May policy meeting revealed that policymakers were split on the support for more interest rate increases but this publication failed to trigger a noticeable market reaction.

Early Thursday, US stock index futures trade mixed with the Dow Futures losing nearly 0.5% and the technology-heavy Nasdaq Futures adding more than 1%. Meanwhile, the benchmark 10-year US Treasury bond yield stays flat near 3.75% following Wednesday’s rally.

EUR/USD stays under persistent bearish pressure and trades at its lowest level in over two months below 1.0750 early Wednesday. Earlier in the day, the data from Germany revealed that the GDP contracted at an annualized rate of 0.5% in the first quarter, compared to the initial estimate of 0.1%.

Despite stronger-than-expected Consumer Price Index (CPI) figures, Pound Sterling failed to hold its ground against the USD and GBP/USD registered its lowest daily close since late March below 1.2400 on Wednesday. The pair stays relatively quiet early Thursday and consolidates its weekly losses slightly above 1.2350.

Fuelled by rising US T-bond yields, USD/JPY advanced toward 140.00 and reached its highest level since November. The pair stages a technical correction in the European morning and trades modestly lower on the day below 139.50.

Pressured by the broad USD strength and the decisive rebound seen in the benchmark 10-year US Treasury bond yield, Gold price suffered large losses on Wednesday. XAU/USD struggles to gain traction and trades at around $1,960 early Thursday.

Bitcoin fell more than 3% on Wednesday and continued to stretch lower in the Asian session on Thursday. After having dropped below $26,000 earlier, however, BTC/USD erased a portion of its daily losses and was last seen trading near $26,200. Similarly, Ethereum fell 3% on Wednesday and broke below $1,800.

Investors cling to a cautious approach mid-week amid a lack of progress in US debt-ceiling negotiations between Republicans and White House. US stock index futures trade modestly lower in the European morning and the US Dollar Index consolidates Tuesday’s gains. IFO sentiment survey from Germany will be featured in the European economic docket. In the late American session, the US Federal Reserve (Fed) will release the minutes of May policy meeting.

FOMC Minutes Preview: The complicated task of searching for clues.

During the Asian trading hours on Wednesday, the Reserve Bank of New Zealand (RBNZ) announced that it raised its policy rate by 25 basis points to 5.5% as expected. The policy statement revealed that the RBNZ expects to hold the rate unchanged at 5.5% by September. In the post-policy meeting press conference, “we are getting on top of inflation,” RBNZ Governor Adrian Orr said and noted that the labour market was becoming less pressured. NZD/USD fell sharply and was last seen trading at its lowest level in nearly a month at 0.6150, losing more than 1.5% on a daily basis.

The UK’s Office for National Statistics reported early Wednesday that the Consumer Price Index rose 8.7% on a yearly basis in April. This reading followed the 10.1% increase recorded in March but surpassed the market expectation of 8.2%. The Core CPI, which excludes volatile food and energy prices, increased 6.8%, compared to analysts’ estimate of 6.2%. Finally, the Retail Price Index rose 11.4%, down from 13.5% in March. Following the stronger-than-expected inflation figures, GBP/USD gained traction and climbed above 1.2450.

EUR/USD touched its lowest level in two months at 1.0760 on Tuesday and spent the Asian session in a very tight range on Wednesday. The pair tries to stage a rebound early Wednesday but stays well below 1.0800. European Central Bank President Lagarde will be delivering a speech at 1745 GMT.

Following Monday’s upsurge, USD/JPY fluctuated in a narrow range on Tuesday and closed the day flat. The pair remains indecisive early Wednesday and moves up and down at around 138.50.

Gold price fell toward $1,950 on Tuesday but managed to stage a rebound in the late American session amid retreating US Treasury bond yields. XAU/USD consolidates its losses near $1,970 in the European morning.

Bitcoin registered modest gains for the second straight day on Tuesday but came under renewed bearish pressure early Wednesday. BTC/USD was last seen losing nearly 2% on the day at $26,700. Ethereum rose toward $1,900 on Tuesday but lost its traction before testing that level. ETH/USD stays on the back foot and declined toward $1,800 in the European morning.

Following Monday’s choppy action, financial markets stay relatively quiet early Tuesday as investors await S&P Global PMI surveys for the Eurozone, the UK and the US. Market participants will continue to keep a close eye on headlines surrounding the debt-limit talks and comments from central bank officials.

US President Joe Biden and House Speaker Kevin McCarthy failed to reach an agreement on raising the government’s $31.4 trillion debt ceiling ahead of the estimated June 1 deadline. In a statement released following the meeting, “we reiterated once again that default is off the table and the only way to move forward is in good faith toward a bipartisan agreement,” Biden said. The sides are expected to continue talks over the phone throughout this week.

US stock index futures trade virtually unchanged on the day and the benchmark 10-year US Treasury bond yield holds steady above 3.7%. In the meantime, the US Dollar Index (DXY) fluctuates in a tight channel slightly below 130.50. In addition to S&P Global PMIs, the US economic docket will also feature April New Home Sales and Richmond Fed Manufacturing Index for May.

EUR/USD struggles to stage a recovery and continues to trade at around 1.0800 early Tuesday. The data from Germany showed in the European morning that the HCOB Manufacturing PMI dropped to 42.9 in May from 44.5 in April, revealing that the business activity in the manufacturing sector continued to contract at an accelerating pace.

GBP/USD stays under modest bearish pressure and edges lower toward 1.2400. Bank of England Governor (BoE) Andrew Bailey and other policymakers will be testifying before the UK Treasury Select Committee from 0915 GMT.

USD/JPY climbed toward 139.00 and touched its highest level since November during the Asian trading hours on Tuesday before staging a downward correction. As of writing, USD/JPY was trading flat on the day near 138.50. Earlier in the day, the data from Japan revealed that Jibun Bank Manufacturing PMI and Jibun Bank Services PMI improved to 50.8 and 56.3 in May, respectively.

Gold price turned south amid rising US Treasury bond yields and closed the day in negative territory. XAU/USD continues to stretch lower early Tuesday and was last seen losing nearly 1% on a daily basis below $1,960.

Following Monday’s indecisive action, Bitcoin gained traction early Tuesday and climbed toward $27,300. Ethereum broke out of its two-week old horizontal channel and was last seen rising 2% on the day at $1,850.

The US Dollar (USD) stays on the back foot to start the new week as market participants stay focused on headlines surrounding the debt limit negotiations in the US. In the European session, Germany’s Bundesbank will release its monthly report and Eurostat will publish the preliminary Consumer Confidence Index data for May. There won’t be any high-impact macroeconomic data releases featured in the US economic docket but several Fed officials will be delivering speeches.

While speaking on Friday, FOMC Chairman Jerome Powell reiterated that they are strongly committed to return inflation to the 2% target. Regarding the potential impact of the recent banking crisis on the policy, Powell said that rates may not need to rise as much as it would have otherwise. Although the US Dollar Index, which tracks the USD’s performance against a basket of six major currencies, registered losses on Friday, it ended up closing the second straight week in positive territory.

Following his phone call with House Republican Speaker Kevin McCarthy on Sunday, US President Joe Biden said that the conversation went well and added that they will speak again on Monday. Meanwhile, US Treasury Secretary Janet Yellen said over the weekend that June 1 is the “hard deadline” to raise the debt ceiling.

EUR/USD touched its lowest level since late March at 1.0760 on Friday but managed to stage a technical correction ahead of the weekend. The pair trades in a narrow channel slightly above 1.0800 early Monday.

Despite the broad-based US Dollar strength, GBP/USD held its ground and closed virtually unchanged last week. Nevertheless, the pair is having a difficult time gaining traction at the beginning of the week and moving sideways below 1.2450.

USD/JPY gained more than 200 pips last week and registered its highest weekly close since November. The pair stays quiet in the European morning and fluctuates below 138.00.

Gold price stayed under heavy bearish pressure amid rising US Treasury bond yields last week and came within a touching distance of $1,950. Although XAU/USD recovered decisively on Friday, it is struggling to build on those gains early Monday while trading slightly below $1,980.

AUD/USD trades in the red below 0.6650 early Monday. In the Asian session on Tuesday, S&P Global will release Manufacturing and Services PMI reports for Australia.

Bitcoin posted marginal losses on Sunday but stayed in its weekly range. Early Monday, BTC/USD trades flat on the day slightly below $27,000. Ethereum continues to fluctuate in a tight channel at around $1,800 following the previous week’s indecisive action.

Risk remains tepid at the start of the European session, as the Asian equities traded mixed, failing to benefit from the Wall Street rally. The US Dollar consolidates weekly gains near two-month highs, tracking the sluggish performance in the US Treasury yields across the curve.

The optimism around a potential US debt ceiling deal was faded by a Reuters report that cited, “the small but powerful Republican faction warned this week that they could try to block any agreement to raise the $31.4 trillion debt ceiling from passing the House of Representatives if the accord does not contain ‘robust’ federal spending cuts.”

Additionally, fresh US-Sino tensions over Taiwan are keeping traders cautious. US Trade Representative’s (USTR) office announced late Thursday, “the US and Taiwan reached agreement on the first part of their ‘21st Century’ trade initiative, covering customs and border procedures, regulatory practices, and small business.” The US-Taiwan agreement clouds the outlook for a visit to the US next week by a Chinese commerce official.

The US stock futures, however, are adding 0.15% on the day, as markets continue to remain hopeful over a debt ceiling deal by Sunday when Biden and McCarthy resume talks.

Despite a risk-on market profile, the US Dollar extended its three-day upsurge on Thursday, courtesy of the hawkish comments from US Federal Reserve (Fed) policymakers and rising bets of a 25 basis points (bps) rate hike in June. Markets are now pricing a 36% probability of a 25 bps June rate hike vs. a mere 10% chance seen at the start of this week.

Dallas Fed President Lorie Logan said that data at this time does not support skipping an interest rate hike in the June meeting. Fed Governor Philip Jefferson noted that inflation remains too high whereas St Louis Fed President James Bullard advocated higher rates once again, suggesting that they are insurance against inflation.

Looking ahead, markets stay focussed on headlines concerning the US debt ceiling and speeches by central banks’ officials, in the absence of top-tier economic data releases on both sides of the Atlantic. Fed Chair Jereme Powell’s speech will hog the limelight while the end-of-the-week flows will likely remain in play.

EUR/USD is picking up fresh bids to resume the rebound toward 1.0800 early Europe, as the US Dollar corrects in tandem with the US Treasury bond yields. Eurostoxx futures are up 0.05%, at the moment. Citing sources, Bloomberg reported that the European Central Bank (ECB) is said to step up scrutiny of bank liquidity and may raise requirements.

GBP/USD is recapturing 1.2400, having briefly dipped below the latter. Bank of England (BoE) policymaker Jonathan Haskel is due to give a speech on how to measure productivity at the Economic Statistics Centre of Excellence Conference on economic measurement 2023 ‘New directions in the measurement of productivity: Integrating concepts and data at 09:45 GMT.

USD/JPY is seeing a sharp correction toward 138.00, as the Yen is recovering ground after inflation in Japan accelerated again in April, with the core Consumer Price Index rising 3.4% from a year earlier. Core-core CPI, which strips away energy and fresh food prices, climbed 4.1%, reaching the highest since September 1981.

AUD/USD is holding its recovery gains near 0.6650, shrugging off resurfacing US-Sino tensions. The US and Taiwan reached an agreement on the first part of their ‘21st Century’ trade initiative, covering customs and border procedures, regulatory practices, and small business. The US-Taiwan agreement clouds the outlook for a visit to the US next week by a Chinese commerce official, somewhat weighing on investors’ sentiment.

USD/CAD is trading under pressure below 1.3500 amid a pullback in the US Dollar and higher WTI prices.

Gold price is attempting a dead cat bounce to test $1,970, looking to recapture the critical 50-Daily Moving Average (DMA) support-turned-resistance at $1,985.

Cryptocurrencies are trading listlessly, with Bitcoin sidelined below $27,000 while Ethereum is challenging the $1,800 mark.

The financial markets trade with caution early Thursday, as the haggling over the US debt ceiling continues to underscore default fears. The Asian stocks witnessed limited gains, despite a solid upsurge in Wall Street indices.

On Wednesday, risk sentiment improved and limited the US Dollar’s upbeat momentum after President Biden expressed confidence there’ll be no US default while a rally in regional banks stocks also lifted the overall mood. Regional banks rally was led by Western Alliance Bancorp a day after the lender said its deposits grew by more than $2 billion in the quarter ended May 12.

At the time of writing, the US S&P 500 futures are down 0.11% on the day, hinting at a sense of caution, as investors weigh the latest developments surrounding the US debt ceiling issue. Citing a draft letter written by senators to President Biden, CNBC News reported early Thursday, “we write to urgently request that you prepare to exercise your authority under the 14th Amendment of the Constitution, which clearly states: ‘the validity of the public debt of the United States…shall not be questioned.'”

“Using this authority would allow the United States to continue to pay its bills on-time, without delay, preventing a global economic catastrophe,” the letter appealed to Biden.

Meanwhile, the US Dollar Index struggles to extend its recovery momentum following the late pullback on Wednesday. The retreat in the US Treasury bond yields seems to be capping the upside in the US Dollar, for now.

Heading into a data-quiet European calendar, choppy trading is likely to extend within the G10 currencies, with the market sentiment set to the key driver. Later in American trading, attention will be on a bunch of mid-tier US economic data releases, including weekly Jobless Claims, Philly Fed Manufacturing Index and the Existing Home Sales data.

Speeches from the European Central Bank (ECB) and Federal Reserve (Fed) officials will also entertain traders in the sessions ahead.

EUR/USD is trading on the defensive below 1.0850, as the US Dollar holds the previous gains. Financial markets in Germany, Switzerland and France are closed in observance of Ascension Day, leaving the pair gyrating in a familiar range amid thin liquidity.

GBP/USD is holding losses after facing rejection just below 1.2500. The pair stays on the back foot in the European morning ahead of Bank of England (BoE) Governor Andrew Bailey’s testimony on Quantitative Tightening before the UK Parliament’s Treasury Select Committee (TSC) at 09:15 GMT. BoE policymakers Dave Ramsden and Ben Broadbent will also testify.

USD/JPY is consolidating losses near 137.50 after retreating from daily highs of 137.75 to 137.29, tracking the weakness in the US Treasury bond yields. The pair is in the red despite the mixed Japanese Trade data, which showed the country’s exports and imports data fell short of market expectations.

AUD/USD was a big mover in Asia, initially rebounding toward 0.6700 before reversing sharply to near 0.6630 on the back of disappointing Australian employment data. The latest data from the Australian Bureau of Statistics (ABS) showed on Thursday, net employment fell by 4,300 in April from March, when it rebounded by a revised 61,100. Meanwhile, the Unemployment Rate unexpectedly rose to 3.7% during the same period. Currently, the pair is trading at around 0.6650, digesting upbeat comments from China’s Ambassador to Australia.

NZD/USD is regaining ground above 0.6250 as New Zealand’s yields spiked after the NZ Treasury called for a no recession in its Budget release.

USD/CAD is paring back gains toward 1.3450 amid a steady US Dollar and a minor pullback in WTI prices after Wednesday’s nearly 4% rally.

Gold price remains vulnerable while below the 50-Daily Moving Average (DMA), looking to extend the previous declines toward the $1,970 round figure.

Risk-averse trading is also witnessed across the crypto board, with Bitcoin edging lower toward $27,000 while Ethereum defends the $1,800 mark so far.

Choppy action continues in the financial markets mid-week despite renewed optimism about a debt limit deal in the US. The US Dollar Index holds comfortably above 102.50 while the 10-year US Treasury bond yield fluctuates above 3.5%. Eurostat will release revisions to April inflation data. Later in the day, April Housing Starts and Building Permits will be featured in the UE economic docket.

Reuters reported late Tuesday that the meeting between US President Joe Biden, top congressional Republican Kevin McCarthy and other congressional leaders on debt ceiling ended on an upbeat note. Coming out of the meeting, McCarthy told reporters that it was possible to get a deal by the end of the week. Early Wednesday, US stock index futures trade mixed, reflecting the cautious market stance. Meanwhile, the US Census Bureau reported that Retail Sales in the United States rose 0.4% in April to $686.1 billion. This reading followed the 0.7% (revised from -0.6%) decrease recorded in March and came in below the market expectation for an increase of 0.7%.

EUR/USD rose above 1.0900 on Tuesday but failed to gather further recovery momentum. The pair trades in a very narrow channel slightly above 1.0850 early Wednesday. Market participants will pay close attention to comments from European Central Bank (ECB) officials, who have been delivering mixed remarks regarding the policy outlook since the beginning of the week.

GBP/USD closed in negative territory below 1.2500 on Tuesday. The pair stays on the back foot in the European morning and continues to push lower toward 1.2450. Bank of England (BoE) Governor Andrew Bailey will deliver a speech at British Chambers of Commerce Global Annual Conference at 0950 GMT.

The data from Japan showed earlier in the day that the Gross Domestic Product expanded at an annualized rate of 1.6% in the first quarter. This reading followed the 0.1% growth recorded in the previous quarter and came in much higher than the market expectation of 0.7%. USD/JPY gathered bullish momentum during the Asian trading hours and was last seen trading at its highest level in two weeks near 136.80.

USD/CAD fell toward 1.3400 after Statistics Canada reported on Tuesday that the annual Consumer Price Index rose 4.4% in April, compared to the market expectation of 4.1%. With retreating crude oil prices weighing on the commodity-sensitive Canadian Dollar, however, the pair regained its traction and climbed above 1.3500 early Wednesday.

Gold price broke below $2,000 and touched its weakest level since early May at $1,985 late Tuesday, pressured by rising US Treasury bond yields. XAU/USD stays relatively quiet at around $1,990 on Wednesday.

Following Monday’s modest rebound, Bitcoin failed to make a decisive move in either direction on Tuesday. BTC/USD fluctuates in a tight channel near $27,000 in the European morning. Ethereum managed to register small gains for the third straight day on Tuesday. ETH/USD seems to have stabilized slightly above $1,800 mid-week.