Macro Trades: EUR/USD, AUD/USD

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EUR/USD: German ZEW Economic Sentiment

The European Common Currency traded sideways against the US Dollar, following the German ZEW Economic Sentiment data release on Tuesday at 9:00 GMT. The EUR/USD exchange currency rate lost 8 pips or 0.08% right after the release. The Euro continued trading at the 1.1185 level against the Greenback.

ZEW released the German ZEW Economic Sentiment data, which came out worse-than-expected of negative 21.5 compared with forecast negative 5.7. Note, that the Euro was also pressured by the speech of the ECB President Mario Draghi.

According to the official release: "The sharp drop in the ZEW Indicator of Economic Sentiment coincides with an increased uncertainty regarding the future development of the global economy and substantially worsened figures for the German economy at the beginning of the second quarter."

AUD/USD: Australian Monetary Policy Meeting Minutes

The Australian Dollar depreciated against the US Dollar, following the Australian Monetary Policy Meeting Minutes data release on Tuesday at 01:30 GMT. The AUD/USD exchange currency rate lost 11 pips or 0.16% right after the release. The Aussie continued trading at the 0.6844 level against the Greenback.

Reserve Bank of Australia released the Australian Monetary Policy Meeting Minutes data, where the Australian policymakers provided in-depth insights into the economic and financial conditions that influenced their vote on where to set interest s rates.

According to the official release: "GDP growth outcomes for the March quarter in some economies had been slightly stronger than the second half of 2018, while labour markets had remained tight. However, global trade and conditions in the global manufacturing sector had remained weak. New export orders had been little changed at subdued levels and growth in industrial production had slowed in many economies, including those economies in east Asia that are closely integrated with global supply chains."

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EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.