EUR/USD turned negative near 1.2480

Spot reverses the earlier upside to 1.2480.
USD now bid around 88.70.
US data next on tap.

Pablo Piovano FXStreet

The now better tone around the greenback is forcing EUR/USD to abandon the area above 1.2500 the figure and return to the 1.2485/80 band.

EUR/USD off YTD peaks near 1.2550

After climbing as high as the mid-1.2500s during the Asian trading hours – levels last visited in December 2014 – spot met a wave of selling orders and has now receded to the 1.2485/80 band, turning negative for the day.

The greenback, in the meantime, has recovered the bid bias although the extension of the upbeat sentiment remains to be seen.

The down move in spot came in line with the drop in yields of the US 10-year benchmark, which are currently trading in daily lows around 2.88%, down from peaks near 2.95% seen earlier in the week.

In the data space, January’s housing starts, building permits and US consumer sentiment are all due later in the NA session.

EUR/USD levels to watch

At the moment, the pair is losing 0.17% at 1.2483 facing immediate contention at 1.2372 (21-day sma) seconded by 1.2206 (low Feb.9) and finally 1.2165 (low Jan.18). On the upside, a breakout of 1.2555 (2018 high Feb.16) would target 1.2598 (61.8% Fibo of the 2014-2017 drop) en route to 1.2886 (high Oct.15 2014).

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 steadies near 1.1650 ahead of US Nonfarm Payrolls

EUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s policy outlook. December NFP is forecast to show job gains of 60,000, down from 64,000 in November.

GBP/USD: Further weakness could challenge 1.3400

GBP/USD remains under unabated selling pressure on Thursday, slipping to fresh three-day lows around 1.3415 in response to further improvement in the sentiment surrounding the Greenback ahead of Friday’s key NFP data.

Gold defends $4,450, looks to the crucial US NFP report

Gold struggles to capitalize on the previous day's goodish move up from the vicinity of the $4,400 mark and attracts some sellers while defending $4,450 in the Asian session on Friday. The critical US employment details will offer more cues about the Fed's rate-cut path, which, in turn, will influence the US Dollar price dynamics and provide a fresh impetus to the non-yielding bullion.

Forecasts for Payrolls are all over the place

Yesterday’s data put the kybosh on the idea the Fed needs to cut rates fairly urgently to protect the labor market. The jobs component of the ISM services index was nicely over 50, and that rising JOLTS voluntary quits rate also points to no real heartache in labor.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.