EUR/USD may struggle to find much sense of direction and keep hovering around the 1.0800 gravity line – ING

FXStreet Insights Team FXStreet

Eurozone inflation numbers will be in focus this week. Economists at ING analyze EUR/USD outlook for the next few days.

Lagarde speaks ahead of Friday's CPI

We forecast the Eurozone’s CPI numbers on Friday to come in line with consensus: 2.5% headline and 2.9% core rate. A drop in core inflation below 3.0% may prompt ECB doves to raise their voices, but the consensus within the Governing Council appears directed at waiting for early 2024 wage data before taking steps to ease policy.

We expect a good week for the Dollar thanks to a strong PCE on Thursday. Before then, EUR/USD may struggle to find much sense of direction and keep hovering around the 1.0800 gravity line.

One event to watch today is ECB President Christine Lagarde participating in a plenary debate in the EU Parliament. Politicians generally put pressure for an earlier untightening of financial conditions, but Lagarde may not derail much from her hawkish tone before seeing February’s CPI numbers.

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 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.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

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.