EUR/USD prints fresh lows in the 1.1350 region ahead of German data

The pair remains weak and puts 1.1350 to the test.
The greenback approaches YTD tops near the 97.00 handle.
German advanced CPI figures next on tap in Euroland.

Pablo Piovano FXStreet

Sellers remain in control around EUR/USD so far on Tuesday, which is now testing fresh weekly lows in the 1.1350/45 band.

EUR/USD now looks to German data

The pair remains well on the defensive and is navigating the lower bound of the recent range, slowly approaching last week’s 2-month low at 1.1332.

Uncertainty around Italian and German politics has joined the poor prints from Italian and EMU GDP figures published earlier today, both coming in below expectations for the July-September period.

In addition, German jobless rate stayed put at 5.1% in October although the Unemployment Change dropped by 11K, less than forecasted.

Moving forward, the shared currency should remain under pressure in light of the release of flash German CPI figures for the current month and US Consumer Confidence by the Conference Board.

EUR/USD levels to watch

At the moment, the pair is down 0.21% at 1.1348 and a break below 1.1334 (low Oct.26) would target 1.1316 (200-week SMA) en route to 1.1299 (2018 low Aug.15). On the flip side, the immediate hurdle aligns at 1.1431 (10-day SMA) seconded by 1.1485 (21-day SMA) and finally 1.1550 (high Oct.22).

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 looks to stabilize near 1.1600 as focus shifts to US data

EUR/USD is looking to stabilize near 1.1600 in the European session on Wednesday as traders breathe a sigh of relief before the top-tier US ADP jobs and ISM Services PMI data. A pause in the US Dollar uptrend helps the pair's recovery, but surging energy prices due to the Iran war will likely remain a drag.

GBP/USD stays weak near 1.3350 as USD preserves gains

GBP/USD stays in the red below 1.3350 in the European session on Wednesday. Escalating conflict in the Middle East keeps the "flight to safety" theme intact, supporting the US Dollar against the Pound Sterling. Traders will take more cues from the US ADP Employment and ISM Services Purchasing Managers Index reports, which are due later on Wednesday.

Gold sticks to intraday gains above $5,150; upside seems limited amid bullish USD

Gold preserves its modest intraday gains through the Asian session on Wednesday and currently trades just above the $5,150 level, up around 1.30% for the day. Investors remain concerned about a prolonged conflict in the Middle East and its impact on the global economy amid an already uncertain environment.

Bitcoin, Ethereum and Ripple struggle for direction as consolidation persists

Bitcoin, Ethereum and Ripple prices trade with a cautious tone at the time of writing on Wednesday as upside momentum continues to fade across the broader crypto market. BTC remains within a parallel channel, ETH struggles below key resistance, while XRP remains fragile within a descending channel. These top three cryptocurrencies by market capitalization continue to struggle to establish a directional bias amid the consolidation phase.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.