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Editors’ Picks
GBP/USD drops further below 1.2700 on stronger US Dollar
GBP/USD picks up downside momentum below 1.2700 in European trading on Monday. The ongoing decline is sponsored by a goodish pickup in the haven demand for the US Dollar, as traders remain wary over the latest Trump tariffs threat on BRICS nations. US ISM PMI is next in focus.
Gold price seems vulnerable on broad-based USD strength
Gold price remains heavily offered tone through the early European session and is currently placed near the lower end of its daily range, around the $2,629 region. This marks the first day of a negative move in the previous five and is sponsored by a combination of factors.
Bitcoin consolidates while ETH, XRP rallies
Bitcoin consolidated on Monday following its recovery from last week’s pullback. At the same time, Ethereum and Ripple extended their rallies, driven by investors reallocating capital from BTC to altcoins, signaling the potential for continued upward momentum.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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