EUR/USD softened on the BoC rate hike yesterday. Economists at ING discuss the world’s most popular currency pair outlook.Range-bound into next week
Today’s session sees some revisions to eurozone 1Q GDP data – expected to be revised down after German figures. However, the market still looks comfortable pricing in two further 25 bps ECB rate hikes by the late summer. Expect EUR/USD to remain becalmed well within a 1.0650-1.0750 range.
EUR/USD extends gains toward 1.0750 despite disappointing EU data
EUR/USD is stretching higher toward 1.0750, as bulls ignore dismal revisions to the Eurozone GDP and jobs data. The pair is benefiting from the ongoing decline in the US Dollar, despite positive US Treasury bond yields and tepid risk sentiment. Focus shifts to the US data.
EUR/USD News
GBP/USD advances toward 1.2500 as US Dollar extends losses
GBP/USD is rising toward 1.2500 in the European session. The pair capitalizes on the extended US Dollar weakness, despite a cautious market mood and higher US Treasury bond yields. The UK docket remains data-dry, as the focus shifts to the US data.
GBP/USD News
Gold rebounds to near $1,950 as investors divide about Fed’s policy
Gold price (XAU/USD) attempted a recovery after dropping to near $1,940.00. The precious metal has extended its rebound move to near $1,950.00 as the US Dollar Index (DXY) has dropped sharply.
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