EUR/USD steadies around 1.1000 as investors await fresh headlines on Russia-Ukraine peace talks

  • EUR/USD sticks around 1.1000 amid obscurity over a ceasefire between Russia and Ukraine.
  • The Ukraine crisis has complicated the job of the ECB ahead of April’s monetary policy.
  • The extent of the interest rate hike by the Fed largely banks upon the extent of US NFP.

The EUR/USD pair is auctioning back and forth in a narrow range of 1.0940-1.1440 since the previous week as investors are waiting for the speech from the European Central Board (ECB)’s President Christian Lagarde and the release of the European Union (EU)’s Unemployment Rate, which are due on Wednesday and Thursday respectively.

The speech from the ECB’s Lagarde will provide insights into the likely monetary policy action in April. The ECB policymakers have yet not increased their interest rates, unlike the other World leaders who have already turned their interest rate cycle. The Ukraine crisis amid Russian military activity on Ukrainian land has made the context complicated for the ECB policymakers. Russia’s invasion of Ukraine has raised fears of stagflation in Europe. Its February inflation figure at 5.9% is very much higher than the targeted figure of 2%. Therefore, ECB’s think tank will remain in dilemma whether to elevate the interest rate or to take the bullet itself.

Meanwhile, the US dollar index (DXY) has rebounded sharply after sensing bids near the round level support at 99.00. Investors are eying the US Nonfarm Payrolls (NFP) for building further positions in the mighty greenback. The extent of US NFP is likely to dictate the extent of the interest rate hike by the Federal Reserve (Fed) as any underperformance from the above-mentioned indicator will keep the interest rate hike in 25 basis points (bps) category.

Apart from the ECB’s Lagarde speech and US NFP, the EU’s Unemployment Rate holds significant importance. The inactive labor force rate is likely to trim to 6.7% against the previous print of 6.8%.


Today last price 1.0983
Today Daily Change 0.0003
Today Daily Change % 0.03
Today daily open 1.098
Daily SMA20 1.1004
Daily SMA50 1.1193
Daily SMA100 1.1261
Daily SMA200 1.1502
Previous Daily High 1.1
Previous Daily Low 1.0945
Previous Weekly High 1.107
Previous Weekly Low 1.0961
Previous Monthly High 1.1495
Previous Monthly Low 1.1106
Daily Fibonacci 38.2% 1.0966
Daily Fibonacci 61.8% 1.0979
Daily Pivot Point S1 1.095
Daily Pivot Point S2 1.092
Daily Pivot Point S3 1.0895
Daily Pivot Point R1 1.1005
Daily Pivot Point R2 1.1029
Daily Pivot Point R3 1.1059






Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

AUD/USD bounces from 0.6850 as China's PMIs return to expansion

AUD/USD bounces from 0.6850 as China's PMIs return to expansion

AUD/USD is bouncing from the 0.6850 area, as bulls find support from the expansion reported in the Chinese NBS PMIs. The US dollar clings to recent gains amid a cautious market mood, awaiting the critical US PCE inflation. 


USD/JPY advances towards 137.00 amid firmer DXY and mixed Japan data

USD/JPY advances towards 137.00 amid firmer DXY and mixed Japan data

The USD/JPY pair is aiming to recapture its fresh 23-year high around 137.00 as the DXY has strengthened on hawkish commentary from Fed chair Jerome Powell. Japan’s mixed Industrial production data has weakened the yen bulls further.


Gold stays on the way to $1,807 support ahead of US PCE inflation

Gold stays on the way to $1,807 support ahead of US PCE inflation

Gold Price struggles to defend the previous day’s bounce off short-term key support during Thursday’s Asian session. In doing so, the yellow metal remains indecisive around $1,818. The yellow metal dropped to the lowest levels in two weeks the previous day.

Gold News

Polygon's MATIC price signals hard times to come, here's why

Polygon's MATIC price signals hard times to come, here's why
Polygon’s MATIC price signals bears have re-entered the market. If the profit-taking continues, a cataclysmic fall could occur to breach the $0.31 low
Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!