EUR/USD has dipped sub 1.10 on the US rates move and could fall further. Economists at ING see the pair tackling the recent 1.08 low in the next few days.
ECB speakers today
“Amongst the ECB speakers today, we have President Christine Lagarde and Chief Economist Philip Lane. Let’s see if arch-dove Lane has anything to say about the current levels of EUR/USD. In reality, tighter monetary policy (not FX intervention) is the only credible tool available to the ECB to fight euro weakness. Let’s see if they are prepared to use it.”
“Given the momentum behind the move in US interest rates, we could easily see.EUR/USD pressing the recent 1.08 low over coming sessions.”
EUR/USD recovers above 1.1000 as dollar loses interest
EUR/USD regained its traction after declining toward 1.0950 earlier in the day and climbed above 1.1000. The improving market mood in the early European session seems to be weighing on the dollar and helping the pair push higher. In the absence of high-tier data releases, markets will focus on central bank speak.
GBP/USD pares early losses, closes in on 1.3200.GBP/USD stayed under bearish pressure during the Asian trading hours and fell below 1.3130 before reversing its direction. The positive shift witnessed in risk mood seems to be helping the British pound find demand while weighing on the greenback.
Gold looks vulnerable whilst below $1,941.Gold price remains stuck in a familiar range below $1,940, lacking a clear direction. Treasury yields firm up on hawkish Fed while the Russia-Ukraine crisis rages on.
Breaking: Ethereum breaks through $3,000 and now targets $4,000.Ethereum price looks more bullish as the week progresses after breaking through $3,000. ETH price is likely to keep charging higher if bulls can maintain momentum.