EUR/GBP to see the 0.91 level without a Brexit deal – Rabobank

FXStreet Team FXStreet

Friday’s forthcoming statement from the UK and EU negotiators could provide crucial direction for the pound. The 0.91 is the level to expect on the EUR/GBP pair in one month, according to analysts at Rabobank.

Key quotes

“On any announcement of a break-through in trade talks we would expect GBP to jump higher – although it is possible that a lack of detail in the plan could soon sap optimism.”

“If the negotiators fail to bridge their differences, GBP will be pressured by an increase in expectation that WTO terms will be in place between UK and EU trade at the start of the year.”

“Our pessimistic outlook puts EUR/GBP at 0.91 on a one month view.”

Author

FXStreet Team

FXStreet

EUR/USD recovers above 1.1600 as focus shifts to US NFP

EUR/USD recovers ground above 1.1600 in Friday's European trading. The pair's uptick is sponsored by a profit-taking pullback in the US Dollar, as traders reposition ahead of the critical US Nonfarm Payrolls data. Meanwhile, the Middle East conflict and higher oil prices could keep the recovery in check.

GBP/USD rebounds toward 1.3400 in countdown to US NFP

GBP/USD is rebounding toward 1.3400 in the European session on Friday. A modest improvement in risk sentiment and a broad-based US Dollar retreat help the pair recover its weekly losses. The focus now remains on the US NFP data and Middle East headlines for fresh trading incentives.

Gold advances on increased safe-haven demand

Gold price recovers its recent losses from the previous session. The yellow metal advances as the broader precious metals market rebounds on safe-haven demand. However, the yellow metal is on track for its first weekly decline in five weeks as escalating Middle East tensions push oil prices higher, fueling inflation concerns and reducing bets on Federal Reserve rate cuts.

Bitcoin, Ethereum and Ripple at risk as US-Iran war extends

Bitcoin, Ethereum, and Ripple trade cautiously at press time on Friday, close to key support levels after a roughly 2% pullback the previous day. Bitcoin holds above $71,000, Ethereum at $2,000, and XRP continues to consolidate in a sideways range.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.