EUR/USD unmotivated around 1.2330, US data on sight

Spot remains parked with moderate gains above 1.2300 the figure.
US tariffs on Chinese imports keep weighing on risk sentiment.
US New Home Sales, Durable Goods Orders and Fedspeak on the docket later.

Pablo Piovano FXStreet

The single currency keeps the positive note at the end of the week and is now taking EUR/USD to the 1.2320/30 band, a tad lower than earlier session tops.

EUR/USD focused on risk, US data

The pair is trading close to the upper end of the weekly range above the key 1.2300 milestone, reverting yesterday’s retracement albeit still unable to break above the critical short-term resistance line off YTD tops, today at 1.2365.

Increasing risk-off sentiment continues to dominate the global markets so far today in response to yesterday’s announcement of US tariffs on Chinese imports worth $60 billion and the subsequent fears of a trade war.

Nothing due data wise in the euro area other than the EU Summit, although it is unlikely to provide any headlines to move the markets.

Later in the NA session, Durable Goods Orders and New Home Sales for the month of February are expected. In addition, Atlanta Fed R.Bostic (voter, centrist) and Minneapolis Fed N.Kashkari (non voter, dovish) are also due to speak.

EUR/USD levels to watch

At the moment, the pair is gaining 0.24% at 1.2332 and a break above 1.2388 (high Mar.22) would aim for 1.2414 (high Mar.14) and then 1.2448 (high Mar.8). On the flip side, immediate contention emerges at 1.2241 (low Mar.21) seconded by 1.2206 (low Feb.9) and finally 1.2165 (low Jan.18).

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 tests nine-day EMA support near 1.1850

EUR/USD inches lower during the Asian hours on Monday, trading around 1.1870 at the time of writing. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming improving momentum. RSI has cooled from prior overbought readings but stabilizes above 50, suggesting dips could stay limited before buyers reassert control.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold slides below $5,000 amid USD uptick and positive risk tone; downside seems limited

Gold attracts fresh sellers at the start of a new week and reverses a part of Friday's strong move up of over $150 from sub-$4,900 levels. The commodity slides back below the $5,000 psychological mark during the Asian session, though the downside potential seems limited amid a combination of supporting factors.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.