EUR/USD: Expected to continue to trade in a range – UOB Group

FXStreet Insights Team FXStreet

The Euro (EUR) is expected to continue to trade in a range, most likely between 1.0480 and 1.0535. In the longer run, instead of a rebound, EUR is expected to trade in a range for now, most likely between 1.0430 and 1.0580, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

EUR is expected to trade between 1.0430 and 1.0580

24-HOUR VIEW: “Following EUR sharp drop to 1.0459 on Monday, we highlighted yesterday (Tuesday) that ‘deeply oversold conditions and slowing momentum indicate that EUR is unlikely to weaken further.’ We expected EUR to ‘trade in a 1.0470/1.0540 range.’ Although our view of range trading was correct, EUR traded in a narrower range than expected (1.0479/1.0535), closing slightly higher at 1.0509 (+0.11%). The relatively quiet price action provides no fresh clues, and we continue to expect EUR to trade in a range, most likely between 1.0480 and 1.0535.”

1-3 WEEKS VIEW: “We highlighted yesterday (03 Dec, spot at 1.0500) that “instead of a rebound, EUR is expected to trade in a range for now, most likely between 1.0430 and 1.0580.” EUR then traded in a relatively quiet manner, and our view remains unchanged.”

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 appears well offered near 1.3160

GBP/USD builds on Tuesday’s losses, although it now manages to pick up some pace and bounce off earlier multi-month troughs near 1.3140. The Greenback’s solid performance and continued political turmoil in the UK are keeping Cable under persistent pressure, with little sign of a meaningful recovery.

EUR/USD rebounds from lows, back to 1.1360

After bottoming out near 1.1320, EUR/USD gathers some traction and reclaims the 1.1350-1.1360 band as the NA session draws to a close on Wednesday. The pair’s drop to multi-month lows comes in response to the continuous leg higher in the US Dollar, which remains propped up by hawkish Fed expectations and uncertainty over the outcome of US-Iran peace negotiations.

Gold pressured near fresh 2026 lows

Gold accelerates its decline and gyrates around the key $4,000 mark per troy ounce on Wednesday, its lowest level since November 2025. In the meantime, tighter-for-longer Fed expectations and a broadly firmer US Dollar continue to weigh on the yellow metal, while uncertainty surrounding a potential US-Iran peace agreement has done little to revive demand for the safe haven space.

XRP nears key support as Fed hike risks suppress demand

Ripple (XRP) continues to face significant selling pressure, trading around $1.05 at the time of writing on Wednesday. This decline mirrors the broader weakness in the crypto market, exacerbated by mounting macroeconomic headwinds and persistent geopolitical uncertainties.

US-Iran talks: The next 60 days will decide where Oil prices go next

Oil markets received some encouraging news after weeks of rising tensions in the Middle East. But let’s not get ahead of ourselves: we’re far from victory, and markets just seem to have priced out the worst-case scenario. The US and Iran have reportedly made "substantive progress" in talks in Switzerland and agreed on a framework for working toward a broader deal within 60 days.

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.