EUR/USD faded the earlier spike, back around 1.2380 on ZEW

The pair eases from earlier tops above the 1.2400 handle.
USD rebounds from lows near the 89.20 region and now tests 89.40.
German/EMU ZEW survey came in below expectations in April.

Pablo Piovano FXStreet

After briefly testing fresh daily highs beyond 1.2400 the figure, EUR/USD has now come under renewed selling pressure and has returned to the 1.2385/80 band.

EUR/USD weaker on ZEW

The pair accelerated the downside after the ZEW Survey in Germany and the euro area came in below expectations for the month of April.

In fact, German Current Conditions came in at 87.9 and Economic Sentiment at -8.2 vs. forecasts at 88.0 and -0.8, respectively. In addition, Economic Sentiment in Euroland dropped to 1.9, missing consensus and down from March’s 13.4.

Adding to the pair’s corrective mood, the greenback managed to rebound from daily lows in the 89.20 region when measured by the US Dollar Index (DXY) and is now flirting with the 89.40 zone.

Data wise later in the NA session, US Housing Starts and Building Permits are due, seconded by Industrial and Manufacturing Production.

Furthermore, San Francisco Fed John Williams (voter, centrist), R.Quarles, Philadelphia Fed P.Harker (non voter, hawkish) and Chicago Fed C.Evans (2019 voter, dovish) area all due to speak later in the NA session.

EUR/USD levels to watch

At the moment, the pair is gaining 0.02% at 1.2382 facing the immediate resistance at 1.2414 (high Apr.17) followed by 1.2478 (high Mar.27) and then 1.2538 (high Jan.25). On the downside, a breakdown of 1.2300 (low Apr.12) would target 1.2214 (low Apr.6) en route to 1.2153 (low Mar.1).

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 climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

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.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.