EUR/USD is hovering around the 1.07 mark. Economists at Commerzbank analyze the pair’s outlook.No impetus.In the run-up to the ECB meeting on Thursday, the market seems to be shying away from trading EUR/USD sustainably below the 1.07 mark. Today, the EUR/USD is likely to move sideways for lack of impetus. There is hardly anything on the data side and due to the blackout period there will be no comments from the ECB or the US Fed.
However, Wednesday’s US inflation release will be a data heavyweight that could bring a little more movement to the EUR/USD. Until then, we should enjoy the calm before the storm.
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EUR/USD stays pressured below 1.0750, looks to German ZEW survey
EUR/USD stays pressured below 1.0750, looks to German ZEW survey
EUR/USD struggles to capitalize on the overnight strong move up and trades with a mild negative bias below 1.0700 early Tuesday. The pair finds some support from a US Dollar rebound and a cautious market mood. German ZEW survey is next in focus.
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GBP/USD battles 1.2500 after mixed UK jobs report
GBP/USD battles 1.2500 after mixed UK jobs report
GBP/USD is battling 1.2500 after the mixed UK employment data failed to impress Pound Sterling buyers. The pair is feeling the pull of gravity, as the US Dollar is finding its feet amid a cautious market environment.
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Gold lacks firm direction as traders await US CPI on Wednesday
Gold lacks firm direction as traders await US CPI on Wednesday
Gold price trades with a positive bias for the second straight day and holds above the 200-day SMA. Subdued US Dollar price action and looming recession risks offer some support to the XAU/USD. The upside seems limited ahead of the US CPI on Wednesday and Thursday’s ECB policy meeting.
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