EUR futures: no change in the consolidative theme

Pablo Piovano FXStreet

In light of advanced figures for EUR futures markets from CME Group, open interest rose by around 1.6K on Wednesday from Tuesday’s 509,942 contracts. In the same line, volume increased by more than 3.4K contracts.

EUR/USD faces strong resistance at 1.2400

EUR/USD extends the weekly sideline theme so far today after once again failing to break above the 1.2400 handle on a convincing fashion on Tuesday. The weekly move in spot has been accompanied by rising volume and open interest, showing some resilience to test lower levels for the time being.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD tests 1.1800 barrier above 50-day EMA

EUR/USD gains ground after three days of losses, trading around 1.1790 during the Asian hours on Thursday. The 14-day Relative Strength Index momentum indicator at 47 (neutral) reflects easing momentum. The RSI below 50 keeps momentum balanced and could limit follow-through.

GBP/USD struggles near four-week low vs. USD, below 1.3500 amid BoE rate cut bets

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Gold consolidates below $5,000 amid geopolitical risk, hawkish FOMC Minutes

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Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments. The technical outlook suggests further gains if INJ breaks above key resistance.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.