The US Dollar Index (DXY) tumbled below 98.00 on Tuesday, reaching its lowest level since mid-October. The Greenback faced intense selling pressure following a delayed labor report that revealed a significant softening in the US job market, overshadowing weak economic activity data from Europe.
The Japanese Yen (JPY) strengthens against the US Dollar (USD) on Tuesday as the Greenback remains on the back foot following the release of the delayed October and November Nonfarm Payrolls (NFP) reports.
Cardano (ADA) is trading under pressure at the time of writing on Tuesday, as sellers remain dominant in the broader cryptocurrency market. The smart contract token’s recovery potential has remained a pipe dream since the October 10 flash crash, despite support at $0.3707-$0.3775 holding steady.
The GBP/USD surges 0.42% on Tuesday as the latest US jobs report revealed the labor mark weakness, while Retail Sales were unexpectedly unchanged from September figures, an indication of consumers’ resilience. At the time of writing, the GBP/USD trades at 1.3432 after reaching a daily low of 1.3355.
The Euro (EUR) edges higher against the US Dollar (USD) on Tuesday after brief two-way volatility as traders digested the delayed US labour market and consumer spending data.
The business activity in the United States' (US) private sector continued to expand in December, albeit at a softer pace than it did in November, with the S&P Global Composite Purchasing Managers' Index (PMI) declining to 53 from 54.2.
Retail Sales in the United States were virtually unchanged at $732.6 billion in October, the US Census Bureau reported on Tuesday. This print followed the 0.1% increase (revised from 0.3%) recorded in September and came in below the market expectation of +0.1%.
The Euro (EUR) weakens against the British Pound (GBP) on Tuesday, as Sterling outperforms most major peers following the release of UK labour market data. At the time of writing, EUR/GBP trades around 0.8763, down nearly 0.25% on the day, snapping a three-day winning streak.