Web Trader MT5 
Gold extended its decline for a second straight session, trading below $4,900 and down about 2% during the Asian session.
Losses may be limited, however, after softer U.S. CPI data boosted expectations that the Federal Reserve could deliver two 25-basis-point rate cuts later this year. Markets are pricing in a potential cut as early as June, with investors awaiting the Fed minutes, Q4 GDP, and the core PCE inflation report for clearer policy signals.
While January’s strong Nonfarm Payrolls and lower unemployment point to a stabilizing labor market, inflation remains above the Fed’s 2% target, keeping uncertainty around the rate outlook.
At the same time, geopolitical risks could support safe haven demand. Tensions between the U.S. and Iran have resurfaced ahead of renewed talks, and U.S.-led discussions between Russia and Ukraine are set to begin, though expectations for a breakthrough remain low.
EUR/USD slipped for a second straight session on Tuesday, trading around 1.1830 as the US Dollar held firm above the 97.00 level on the DXY. The euro is pressured by rising expectations of a potential ECB rate cut after Eurozone inflation fell to its lowest level since September 2024.
However, downside momentum may be limited as dovish Federal Reserve expectations cap further USD strength. Softer US inflation data has increased bets on a possible June rate cut, while concerns about Fed independence also restrain aggressive dollar buying.
In the stock market, Wall Street is coming off another weak week, as concerns about AI-driven disruption in sectors such as financial services weighed on sentiment. The S&P 500 and Dow each fell more than 1.5% last week, while the Nasdaq 100 dropped over 1.6% to 24,704
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