EUR/USD regains 1.1600 on USD-selling, Draghi eyed

The pair turns positive above the 1.16 handle on Monday.
The greenback loses the grip and drops to 94.80.
President M.Draghi will speak at the ECB Forum in Sintra later in the day.

Pablo Piovano FXStreet

After bottoming out around 1.1570 in early trade, EUR/USD managed to grab some attention and is now advancing to session highs beyond 1.1600 the figure.

EUR/USD now looks to Sintra

The pair has now reverted the initial negative momentum and managed to attract some buying interest following a brief test of lows in the 1.1570/60 band.

The squeeze higher in spot is following a retreat in the greenback from session peaks beyond the critical 95.00 handle when tracked by the US Dollar Index (DXY) to the 94.85/80 band.

EUR will remain in centre stage ahead in the day as market participants will closely follow the speech by President Draghi at the ECB Forum in Sintra (Portugal), although consensus expect a tone in line with the recent press conference in the wake of the ECB meeting last Thursday.

Across the pond, the NAHB index will be the sole release. Further out, Atlanta Fed R.Bostic (voter, centrist) and New York Fed W.Dudley (permanent voter, centrist) are also due to speak.

EUR/USD levels to watch

At the moment, the pair is losing 0.10% at 1.1597 and a breakdown of 1.1543 (low Jun.15) would target 1.1508 (2018 low May 29) en route to 1.1479 (low Jul.20 2017). On the flip side, the next hurdle aligns at 1.1617 (low Jun.1) seconded by 1.1698 (21-day sma) and finally 1.1714 (10-day sma).

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.