EUR/USD rises modestly after FOMC minutes, remains in range

US Dollar drops marginally after the release of the FOMC minutes.
EUR/USD consolidates yesterday’s gains, remains below 1.1400.

Matías Salord FXStreet

The EUR/USD pair was trading flat for the day, around 1.1370 and after the release of the FOMC minutes of the November, meeting rose modestly, holding below daily highs and also under the 1.1400 area.

EUR/USD climbed to 1.1390 after the minutes and pulled back quickly to the 1.1375. Price continues to move sideways in a range between 1.1350 and 1.1400, above the level it had before Jerome Powell’s speech yesterday.

The words of the Fed’s Chairman yesterday offset today’s event of the FOMC minutes. At the November meeting, the central bank as expected kept interest rate unchanged at 2.00-2.25%. According to the document, almost all FOMC members considered a rate hike warranted 'fairly soon'. They discussed modifying language on 'further gradual' rate hikes. “A couple of participants noted that the federal funds rate might currently be near its neutral level.”

EUR/USD Short-term Levels to watch

To the upside, resistance levels might be located at 1.1400/05 (Nov 29 high) followed by 1.1420 (Nov 22 high) and 1.1460. On the downside, support could be seen at 1.1360, 1.1325 (Nov 23, 16 low) and 1.1300.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD struggles below 1.1800 ahead of US data, Fedspeak

EUR/USD remains trapped in a tight range below 1.1800 in the European session on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on the US data and Fedspeak.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold holds pullback below $5,200 amid USD uptick

Gold holds moderate losses below $5,200 in European trading on Tuesday, though it lacks follow-through selling. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers ahead of mid-tier data and Fedspeak.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.