EUR/USD remains bid above 1.0600, albeit down from daily highs.

EUR/USD gives away part of the initial bull run to 1.0670.EUR/USD maintains the bid bias well in place around the 1.0640 region at the end of the week. Despite the bounce in the last couple of sessions, the pair’s weekly performance falls into the negative territory.

EUR/USD: Weekly upside appears capped around 1.0760.The recovery in the risk complex – mainly on the back of alleviated concerns surrounding the banking system on both sides of the ocean – keeps the buying pressure unchanged around EUR/USD, which adds to Thursday’s advance past 1.0600 the figure at the end of the week.

On the USD-side of the equation, the knee-jerk in the buck comes amidst the resumption of the downtrend in US and German yields, all following the 50 bps rate hike by the ECB on Thursday and conviction of a 25 bps rate raise at the Fed’s gathering on March 22.Data wise in the euro area, final inflation figures showed the CPI rose 8.5% in the year to February and 5.6% when it came to the Core inflation.

In the US, Industrial Production came flat on a monthly basis in February and contracted 0.2% vs. the same month of 2022. In addition, Manufacturing Production expanded 0.1% MoM and contacted 1.0% over the last twelve months. Finally, the CB Leading Index dropped 0.3% MoM during last month and the advanced Michigan Consumer Sentiment is expected to have deflated to 63.4 in March.

What to look for around EUR

EUR/USD manages to leave behind some of the recent weakness and retakes the 1.0600 hurdle and above at the end of the week. The rebound seen so far in the second half of the week faltered near 1.0670.

In the meantime, price action around the European currency should continue to closely follow dollar dynamics, as well as the potential next moves from the ECB in a context still dominated by elevated inflation, although amidst dwindling recession risks.

EUR/USD edges higher toward 1.0650 ahead of the weekend

EUR/USD has stretched higher toward 1.0650 in the American session on Friday with the US Dollar staying under selling pressure amid falling US T-bond yields. The risk-averse market atmosphere, however, seems to be limiting the pair’s upside heading into the weekend.

EUR/USD News

GBP/USD holds near 1.2150, looks to post weekly gains

GBP/USD has gained traction and returned to the 1.2150 area following the earlier pullback toward 1.2100. The pair remains on track to end the week in positive territory with the US Dollar staying on the back foot during the American trading hours on Friday.

GBP/USD News

Gold jumps to eleven-month high past $1,960

Gold price retreated to the $1,960 after having touched its highest level since April at $1,965 in the early American session on Friday. The benchmark 10-year US Treasury bond yield is down nearly 5% on the day near 3.4%, allowing XAU/USD cling to its impressive daily gains.