EUR/USD to have a chance to get back closer to the pandemic peak level.

EUR/USD is currently stuck in a range. Economists at Société Générale analyze the pair’s outlook.More ECB than Fed tightening in H2

We expect more ECB than Fed tightening in H2, Fed easing in H1 2023 as the US slips into a mild recession, and EUR/USD to have a chance to get back closer to the pandemic peak level (1.23, Jan 2021).

The biggest risk is that we stay in a much narrower range, i.e., EUR/USD meanders in a 1.05-1.15 range for the foreseeable future, in the face of a synchronised global slowdown.

EUR/USD closes in on 1.0900, US jobs data eyed

EUR/USD is closing in on the 1.0900 level, extending its correction in the European trading hours. The pair capitalizes on strong German Factory Orders data and renewed US Dollar weakness ahead of the key US jobs data.

EUR/USD News

GBP/USD rises toward 1.2800, tracks UK gilts yields higher ahead of US data

GBP/USD is extending gains toward 1.2800 in the European session. The pair is benefiting from a rally in the UK gilt yields on hawkish BoE expectations. The US Dollar selling gathers steam, despite higher US Treasury bond yields and a risk-off mood. US employment data awaited.

GBP/USD News

Gold falls back below $1,920 as Fed remains hawkish on interest rate guidance

Gold price has sensed selling pressure while attempting to sustain above the crucial resistance of $1,920.00 in the European session. The precious metal is struggling to attract bets as Fed policymakers remained hawkish on interest rate outlook.