EUR holds steady in quiet trade ahead of NA session – Scotiabank

FXStreet Insights Team FXStreet

The Euro (EUR) is steady, entering Wednesday’s NA session unchanged vs. the US Dollar (USD) in an overall quiet market. The EUR’s range since June has been flat, and its latest pullback has been driven by a combination of broader geopolitical developments and softer CPI data (France, Germany), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

ECB speakers in focus as guidance stays neutral

"Germany-US spreads have narrowed modestly and eroded some of the EUR’s fundamental support, however they remain elevated just below their recent multi-year highs. The latest data releases have included the preliminary euro area CPI figures, coming in as expected at 2.0% y/y on headline with a fractional miss on core at 2.3% y/y (vs. 2.4% exp.)."

"The euro area contrast with the major country level releases and may provide some support to the EUR as market participants find reassurance. The ECB’s Pereira is scheduled to speak at 5:30pm ET, however the highlight will likely be Chief Economist Lane’s speech on Friday. Policymakers have generally maintained neutral guidance while leaning hawkishly on the ultimate direction of rates."

"The broader range remains flat and the latest pullback has been minimal. Momentum is neutral with an RSI still hovering around the threshold at 50. We continue to highlight the importance of near-term trend support around the 50 day MA at 1.1647 and look to a near-term range bound between 1.1650 and 1.1750."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD eases to four-week lows near 1.1650

EUR/USD now loses further momentum and recedes to multi-week lows near 1.1650 on Thursday. The pair’s extra retracement comes on the back of the persistent bid tone in the US Dollar as investors continue to gear up for the release of the December NFP figures on Friday.

GBP/USD: Further weakness could challenge 1.3400

GBP/USD remains under unabated selling pressure on Thursday, slipping to fresh three-day lows around 1.3415 in response to further improvement in the sentiment surrounding the Greenback ahead of Friday’s key NFP data.

Gold bounces back to its comfort zone

Gold now manages to regain some balance, fading its earlier pullback to the proximity of the $4,400 region per troy ounce and reshifting its attention to the $4,450 zone on Thursday. The yellow metal’s move lower comes in response to a better tone in the Greenback and the generalised recovery in US Treasury yields.

Crypto Today: Bitcoin, Ethereum, XRP extend decline as ETF outflows pose headwinds

Bitcoin struggles with selling pressure as institutional investor sentiment deteriorates. Ethereum hangs onto the 50-day EMA lifeline amid growing overhead risks and the resumption of ETF outflows.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.