EUR/GBP fades the spike to 0.8530, Trump/May on focus

Pablo Piovano FXStreet

Both the single currency and the Sterling remain under pressure on Friday, prompting EUR/GBP to deflate from session tops in the 0.8530 area.

EUR/GBP looks to Trump/May

The European cross has practically shrugged off yesterday’s deep sell off to lows in the vicinity of 0.8470 following a significant drop in the EUR in response to a strong pick up in the demand for the US Dollar.

EUR/GBP is thus reverting four consecutive sessions of losses backed by the renewed GBP strength. Recall that the British Pound has been recently supported by a conciliatory tone from Theresa May regarding the future of the Brexit negotiations and positive results from the UK docket.

That said, market participants will closely follow today’s meeting between President D.Trump and PM T.May, with a potential trade deal on top of the agenda.

On the data front, EMU’s Private Loans rose 2.0% on a year to December, while M3 Money Supply expanded 5% during the same period. On Thursday, UK’s flash GDP figures showed the economy is expected to expand at an annualized 2.2% in Q4.

EUR/GBP key levels

The cross is now gaining 0.42% at 0.8515 facing the next hurdle at 0.8540 (high Jan.26) ahead of 0.8610 (20-day sma) and then 0.8652 (100-day sma). On the downside, a break below 0.8465 (high Jan.26) would expose 0.8446 (low Jan.3) and finally 0.8409 (200-day sma).

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.

GBP/USD: Daily gains remain capped by 1.3650

GBP/USD leaves behind Monday’s pessimism and advances marginally on Tuesday. Cable’s humble gains, however, appear to have met quite a decent resistance in the 1.3650 zone for now, in a context of a slight selling pressure hovering around the Greenback.

EUR/USD picks some pace, retests 1.1670

EUR/USD advances modestly and revisits the 1.670 zone on turnaround Tuesday. The pair’s slight advance comes after two daily drops in a row and follows the humble decline in the US Dollar, while investors gear up for upcoming US data and the Jackson Hole Symposium.

Gold treads water around $4,650

Gold navigates the middle of its daily range near $4,650 per troy ounce on Tuesday. The lack of clear direction in the yellow metal comes on the back of the widespread cautious tone among market participants, a mildly offered stance in the US Dollar and a marked decline in US Treasury yields across the curve.

Crypto Today: Bitcoin soars past $80K as Ethereum and XRP hold gains

Bitcoin (BTC) is trading above $80,000 on Tuesday. This is the highest level the Crypto King has traded since mid-May, underscoring a positive shift in investors' risk-on sentiment, liquidity conditions and the technical outlook.

Nvidia earnings: A quick look at expectations

The 2026 Q2 earnings season is nearly over for S&P 500 members, with the reporting cycle notably positive. But looming large this week is none other than AI-favorite NVIDIA (NVDA) , whose results will wrap up the reporting cycle for the Magnificent Seven group as well.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.