EUR/JPY firmer, regains 130.00 and above

EUR/JPY bounces off recent lows in the mid-129.00s.
The dollar remains offered amidst improved risk appetite.
ECB published its Accounts of the June meeting.

Pablo Piovano FXStreet

The offered note in the greenback allows for extra gains in the single currency, lifting at the same time EUR/JPY back above the psychological 130.00 yardstick.

EUR/JPY meets support around 129.50

After bottoming out in the mid-129.00s on Thursday, EUR/JPY managed to regain some composure in tandem with the return of the offered bias around the greenback, which allows gains in the euro.

In addition, investors remain biased towards the risk complex, which in turn underpins the selling pressure in the Japanese safe haven. Furthermore, another uptick in US 10-year yields collaborate with the latter.

Earlier, the ECB published its Accounts of the June gathering, noting that some members favoured scaling back the pace of asset purchases. Members were also concerned that higher market rates could morph into a tightening of financial conditions and agreed to look through the current temporary pick-up in inflation.

In the US docket, the Fed will release the Monetary Policy Report later in the session.

EUR/JPY relevant levels

So far, the cross is advancing 0.45% at 130.51 and a surpass of 131.05 (100-day SMA) would aim for 132.34 (50-day SMA) and finally 132.69 (weekly high Jun.23). On the downside, immediate support comes in at 129.62 (monthly low Jul.8) followed by 128.29 (weekly low Mar.24) and then 128.15 (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.

EUR/USD flat lines near 1.1800 as traders brace for US PPI release

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties. Traders await the preliminary reading of the Consumer Price Index from Germany on Friday for more clues about the pace of future policy easing. On the US front, the Producer Price Index report will be released.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold remains below $5,200 despite tariff jitters and geopolitical risks

Gold is seen consolidating in a range below the $5,200 mark during the Asian session on Friday amid mixed cues. Trade jitters, along with the risk of a potential US-Iran war, act as a tailwind for the safe-haven bullion. Meanwhile, the Fed's hawkish outlook keeps the US Dollar close to the monthly high and caps the non-yielding yellow metal. Nevertheless, the commodity remains on track to register gains for the fourth straight week, though the fundamental backdrop warrants some caution for bullish traders.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Bitcoin steadies as traders eye US–Iran talks

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Thursday after a 6.2% relief rally the previous day amid a broader downward trend.