nefited from the sour sentiment, as stock markets kept giving up yearly gains while government bond yields flirted with record highs. Other than that, speculative interest awaits inflation-related figures from major economies to confirm or deny its concerns.
So far this Tuesday, the calendar has been relatively scarce, with no data from Europe but some housing-related releases from the United States . The country will publish the July Housing Price Index and the S&P/Case-Shiller Home Prices Index for the same month. Additionally, the US will release August New Home Sales and September CB Consumer Confidence.will publish updates on price pressures.
For the near term, the 4-hour chart suggests the ongoing recovery is not enough to change the pair's longer-term direction. Technical indicators corrected oversold conditions but remain well below their midlines. At the same time, the 20 SMA has decelerated its slump but keeps grinding south below bearish longer ones, reflecting sellers' dominance.
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Source: FXStreetNews - 🏆 14. / 72 Read more »