The US dollar trades at yesterday’s levels; XAUUSD hovers around the $4,700 area; EURUSD declined below 1.17200; Bitcoin tests the $81,200 resistance.
- The greenback is holding relatively steady after regaining part of its strength earlier in the week.
- XAUUSD has been consolidating and trading sideways at $4,660–$4,770 for the past trading sessions.
- EURUSD remains relatively stable, though with convincing bearish momentum.
- Meanwhile, Bitcoin continues to hold firm after its recent breakout phase.
Today’s focus
FX snapshot
XAUUSD
Should geopolitical tensions intensify again, gold could rapidly recover bullish momentum. Otherwise, the market may continue consolidating within a broad range whilst investors reassess the macroeconomic outlook.
EURUSD
For now, EURUSD appears trapped between two competing narratives: slowing European growth on one side and elevated US inflation on the other.
BTC
Should broader risk sentiment improve again, Bitcoin may attempt another push higher towards major resistance areas.
Market sentiment
This morning, the market feels calmer, though inside, there is still a noticeable sense of tension. Yesterday’s US inflation data did not deliver a dramatic shock, but it was firm enough to keep markets cautious about the idea of rapid monetary easing later this year. As a result, traders started this session with a more balanced tone: not fully defensive, yet not entirely comfortable chasing risk either.
