EUR/USD pushes higher to 1.1880 ahead of Lagarde

EUR/USD extends the positive momentum near 1.1900.
EMU’s Sentix index came in a tad below estimates in July.
ECB’s C.Lagarde speaks later in the session.

Pablo Piovano FXStreet

The buying interest around the single currency remains well and sound and now lifts EUR/USD to the area of daily highs just below 1.1900 the figure on Monday.

EUR/USD up on USD-weakness, looks to Lagarde

EUR/USD advances for the second session in a row and extends the bounce off 3-month lows near the 1.1800 yardstick recorded on Friday.

In fact, the selling pressure continues to hurt the dollar as investors continue to assess the latest Payrolls figures (+850K), all exacerbated at the same time by the marginal trade conditions and scarce volatility in response to the inactivity in the US markets due to the Independence Day holiday.

Data wise in the Euroland, final Services PMI in Germany came in at 57.5 for the month of June (from 58.1 preliminary) and 58.3 in the broader euro area (from 58.0 preliminary). Additional data saw the Sentix Index improving to 29.8 in July (from 28.1).

Later in the session, Chairwoman C.Lagarde will participate in a panel discussion in France.

What to look for around EUR

Sellers failed to drag EUR/USD further south of 1.1800 the figure at the end of last week. Price action around spot, in the meantime, is expected to exclusively follow dollar dynamics, particularly after the latest FOMC gathering underpinned prospects of higher inflation and potential tapering before anticipated. Further out, support for the European currency comes in the form of auspicious results from fundamentals in the bloc coupled with higher morale, a strong rebound in the economic activity and the investors’ appetite for riskier assets.

Key events in the euro area this week: ECB’s Lagarde (Monday) – Germany/EMU ZEW survey (Tuesday) – ECB Accounts (Thursday) – ECB’s Lagarde (Friday).

Eminent issues on the back boiler: Asymmetric economic recovery in the region. Sustainability of the pick-up in inflation figures. Progress of the vaccine rollout. Probable political effervescence around the EU Recovery Fund. German elections. Investors’ shift to European equities.

EUR/USD levels to watch

So far, spot is gaining 0.12% at 1.1878 and faces the next hurdle at 1.1975 (weekly high Jun.25) followed by 1.1997 (200-day SMA) and finally 1.2000 (psychological level). On the downside, a break below 1.1822 (monthly low Jul.2) would target 1.1762 (78.6% Fibo of the November-January rally) and route to 1.1704 (2021 low Mar.31).

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 rises to 1.1800 neighborhood amid renewed USD selling and trade uncertainties

The EUR/USD pair regains positive traction during the Asian session on Wednesday and jumps to the 1.1800 neighborhood in the last hour, reversing the previous day's modest losses. The intraday move up is sponsored by the emergence of fresh US Dollar, which continues to be weighed down by persistent trade-related uncertainties.

GBP/USD remains stronger above 1.3500 following Trump’s State of the Union

GBP/USD remains in the positive territory for the fourth successive session, trading around 1.3510 during the Asian hours on Wednesday. The pair appreciates as the US Dollar remains subdued following US President Donald Trump’s first State of the Union address of his second administration before a joint session of Congress.

Gold stays firm above $5,150 as Trump's delivers State of the Union speech

Gold finds fresh demand and regains the $5,150 level following the previous day's pullback from the monthly peak as traders assess Trump's State of the Union address. Trade-related uncertainties and geopolitical risks seem to act as a tailwind for the safe-haven bullion.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.