EUR/USD edges higher amid flat momentum – OCBC

FXStreet Insights Team FXStreet

Euro (EUR) ticked higher vs US Dollar (USD) and was last seen at 1.1044 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

EU plans retaliation over US tariffs

"Daily momentum is flat while RSI shows signs of rising. Consolidation likely. Resistance here at 1.1050. Support at 1.0910 (23.6% fibo retracement of 2025 low to high), 1.0880 (21 DMA)."

"Today, EU members is expected to vote on the retaliatory package, which targets a watered-down list of EUR21bn US goods (instead of the original EUR26bn). Bourbon and wine have been dropped out of the list. This set of European tariff proposal is in response to Trump's steel and aluminium tariffs rather than the broader tariffs."

"EU is expected to produce a larger package of countermeasures by the end of April, as a response to the tariff on cars and broader tariffs. EU trade chief Sefcovic said the EU was ready to consider all retaliatory options. One is the EU's Anti-Coercion Instrument, which allows it to target US services or to limit US companies' access to EU public procurement tenders. But as of now, EU is prioritising negotiations to avert a full-fledged trade war."

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.

GBP/USD bulls seem hesitant as Hormuz ship attack supports safe-haven USD

The GBP/USD pair sticks to a positive bias for the second straight day, albeit it remains below the previous day's swing high and trades just below the 1.3200 mark during the Asian session on Friday. Furthermore, the fundamental backdrop warrants caution before positioning for any meaningful recovery from November 2025 lows, around the 1.3140 region, touched on Wednesday.

EUR/USD softens toward 13‑month low near 1.1350 as rising US PCE inflation lifts US Dollar

The EUR/USD pair loses ground to around 1.1365 during the early Asian trading hours on Friday. The major remains near a 13-month low as market expectations for US interest rate hikes have risen. Traders brace for the release of the Michigan Consumer Sentiment Index report, which will be released later on Friday.

Gold: Eyes on Death Cross and $3,950 support

Gold sellers return early Friday, with eyes on $3,950, despite easing Fed rate hike bets. The US Dollar catches a fresh haven bid amid global risk aversion and Hormuz tensions. Gold awaits Death Cross confirmation as RSI returns to the bearish zone on the daily chart.

Bitcoin briefly hits $58K as short-term holder weakness deepens, macro conditions trigger liquidations

Bitcoin fell briefly toward the $58,000 level on Thursday as mounting macroeconomic uncertainty, weakening short-term investor conviction and widespread liquidations intensified selling pressure across crypto.

Asian stock markets plummet as Apple price hike raises inflation concerns, KOSPI dives over 8%

Asian equity markets on Friday are significantly down as price hikes announced by Apple Inc. due to memory chip shortages have prompted fears of high inflation globally and concerns on earning projections of various companies that rely on these sophisticated chips for their final products.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.