EUR/USD: The joy of scalping trader, as market remains very calm

Vasilis Tsaprounis Independent Analyst

The single European currency remains in a narrow range trading near to 1,0850 level for the fourth day in a row as the very poor agenda and investors caution have greatly reduced the exchange rate's range.

Monday, as expected, did not give any excitement, the economic agenda was relatively indifferent with the only news announced being investors confidence in the eurozone, which did not show any surprises.

The general picture of the market remains the same with the majority of investors continuing to watch with interest the bets on prospects for cuts in key interest rates from Fed and ECB.

Right now the chances are concentrated on three rate cuts, but the possibility for just two by the Fed is starting to widen slowly.

Τhe US labor sector continues to remain strong, greatly reducing the chances of a recession for the US economy, but the fear that the downward trend in inflation will not continue remains on the table.

Τomorrow's US consumer inflation data is eagerly awaited and is likely to shift bets on interest rate cut prospects.

Τhe European currency remains in a defensive mode, it maintains the characteristic of good reactions on the table but it is likely it will be difficult to develop again a strong bullish momentum and manage to overcome and stay above the levels of a 1,10.

For today, the most likely scenario is for the trading range to remain narrow and investors to avoid big bets ahead of tomorrow's critial data. As in addition to inflation in US we have the Fed's Minutes and ECB's meeting on Thursday where may not expect any change in rates but President Lagarde comments may give new conclusions.

Author

Vasilis Tsaprounis

Independent Analyst

Vassilis Tsaprounis possesses over 25 years of professional experience in Capital Markets and especially in the foreign exchange market.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.