EUR/USD: The bigger-picture direction remains upwards – Nordea

FXStreet Insights Team FXStreet

It has been quite a turbulent ride in EUR/USD lately. Economists at Nordea expect the pair to grind higher.

USD could be stronger if we get a new global turndown

“While the USD usually benefits during turbulent times, it has been hurt by the lower rate differential.”

“Given our latest views on the Fed and ECB, we believe the ECB needs to do more from here to bring inflation under control, pointing to a higher EUR/USD ahead. Uncertainty is markedly high though, if we get a new global turndown, the USD could be stronger than we expect.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD struggles aroound 1.1800 as USD stabilizes

EUR/USD stays defensive around 1.1800 in the European session on Thursday. The US Dollar stabilizes, following the recent decline led by tariff uncertainty, capping the pair's upside. All eyes now remain on the US-Iran nuclear talks after ECB President Lagarde's testimony fails to impress Euro bulls.

GBP/USD drops toward 1.3500 as USD finds fresh demand

GBP/USD falls back toward 1.3500 in the European session on Thursday, snapping its recovery momentum. The pair loses traction as the US Dollar finds fresh demand, as markets turn cautious ahead of the US-Iran nuclear talks. The US trade policy uncertainty also remains a drag on risk sentiment.

Gold clings to gains amid sustained safe-haven flows ahead of US-Iran talks

Gold sticks to its modest intraday gains through the first half of the European session on Thursday, with bulls still awaiting a sustained move and acceptance above the $5,200 mark before placing fresh bets.

Stellar: Relief bounce fades as bearish undertone persists

Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.

The one thing everyone is on the lookout for is US action of some sort against Iran

The FX market is minestrone soup these days. It is befuddled by conflicting data, rumors and small stories exaggerated out of proportion, and Trump-generated uncertainty.

Solana strikes key resistance with double-digit gains

Solana trades at $88 at press time on Thursday, after an 11% upswing the previous day within a broader consolidation range of roughly three weeks. Institutional demand for Solana heightens as US spot SOL Exchange Traded Funds record $30 million of inflow on Wednesday.