EUR/USD retreats to the 1.0500 area after Putin’s comments.

EUR/USD up for the day but off highs.

The EUR/USD dropped below 1.0500 following comments from Russian President Putin. The Euro is among the weakest currencies of the American session. Earlier it peaked at 1.0549, the highest level in two days.

A choppy session

Market sentiment deteriorated briefly after Russian President Vladimir Putin said the threat of nuclear war is on the rise. He added they have the most advanced weapons but they don’t want to use them. He considers it possible using nukes as a response to an attack.

Wall Street is moving between gains and losses. The S&P 500 is up 0.28%, after falling during the previous four trading days. Crude oil prices are back in negative territory. The US Dollar is mixed, with the DXY down 0.35%, off lows.

Unclear signs

The Euro is rising versus the US Dollar after two consecutive daily losses, recovering from the three-day lows. The main trend remains bullish with a focus on the 1.0600 area which is the critical resistance for the moment. On the flip side, the key area is seen around the 1.0400 area; before that level support levels are seen at 1.0480 and then 1.0440.

As of writing, EUR/USD is hovering around 1.0500, up for the day but off highs. The 20-hour Simple Moving Average stands at 1.0480 and a slide below would change the intraday bias to bearish.

EUR/USD retreats below 1.0500 as US Dollar rebounds

EUR/USD has lost its traction and declined below 1.0500 during the American trading hours. The negative shift witnessed in risk mood, as reflected by falling US stocks, seems to be helping the US Dollar keep its footing and weighing on the pair.


GBP/USD struggles to hold above 1.2200 amid risk aversion

GBP/USD turned south and dropped below 1.2200 after having touched a daily high above 1.2220 earlier in the day. Wall Street’s main indexes trade in negative territory following a quiet opening, helping the US Dollar find demand as a safe haven.


Gold loses bullish momentum, declines below $1,780

Gold price came under bearish pressure and fell below $1,780 in the second half of the day on Wednesday. With the 10-year US Treasury bond yield dropping below 3.5% and losing more than 1% on the day, however, XAU/USD manages to hold in positive territory.

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