EUR/USD holds steady at around 1.0700. Economists at ING expect the pair to continue trading well within the confines of a 1.0650-1.0750 range today.
Q1 forecast remains at 1.08
“It looks like EUR/USD is settling into a broad 1.05-1.10 trading range this quarter – leaving us comfortable with the EUR/USD profile we outlined that profile saw the pair ending the first quarter near 1.08 before pushing decisively above 1.10 in the second as the US disinflation story accelerated at a time when China was reopening.”
“EUR/USD is bouncing off the recent 1.0650/0660 lows helped by a slightly positive risk environment coming out of Asia. We would expect it to continue trading well within the confines of a 1.0650-1.0750 range today.”
EUR/USD holds modest gains around 1.0700 ahead of ECB-speak
EUR/USD is holding modest gains at around 1.0700 in the early European morning. The US Dollar retreats alongside the US Treasury bond yields amid a better market mood. Focus shifts to the ECB commentary and a fresh batch of US data for further trading impetus.
GBP/USD bounces toward 1.2050 amid upbeat mood
GBP/USD is rebounding toward 1.2050, jumping back on the bids in early Europe. Risk sentiment remains in a firmer spot, weighing on the US Dollar while boosting the Pound. The pair dropped the most in a fortnight after the UK CPI poured cold water on hawkish BoE expectations.
Gold recovers from multi-week low, Fed rate hike jitters cap gains
Gold price attracts some buying on Thursday and recovers a part of the previous day’s losses to the $1,830 area, or its lowest level since January 6. The XAU/USD sticks to its gains through the early European session and is currently hovering around the $1,840 level.
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