EUR/USD weaker, drops to lows near 1.1320

The pair comes under further pressure and tests lows near 1.1320.
The greenback looks to advance beyond the 97.00 mark.
Italy back to centre stage on concerns over the budget.

Pablo Piovano FXStreet

The sentiment around the single currency appears deteriorated early in the European morning and is now dragging EUR/USD to fresh daily lows in the 1.1320 region.

EUR/USD looks to Italy, US data

Spot comes under pressure following headlines from the Italian political scenario, where some news cites PM Conte could be assessing the probability of lowering the 2020/21 budget, while newspaper La Repubblica says Salvini and Di Maio will not revise the deficit below the 2% level.

Still in Italy, Salvini, Di Maio and PM Conte are expected to meet later today with the budget on top of the agenda. In addition, Conte is expected to submit the budget plan to EU’s Juncker on Tuesday.

Also weighing on the pair, the US-China trade truce has come under scrutiny as of late following comments by President Trump (as expected).

In today’s calendar, German Factory Orders expanded at a monthly 0.3% in October. Later in the session, US ADP report is due along with Initial Claims, Services PMIs, Factory Orders and the key ISM Non-manufacturing.

EUR/USD levels to watch

At the moment, the pair is losing 0.12% at 1.1330 facing the next support at 1.1264 (low Nov.28) followed by 1.1214 (2018 low Nov.12) and finally 1.1188 (61.8% Fibo of the 2017-2018 rally). On the flip side, a breakout of 1.1418 (high Dec.4) would target 1.1434 (high Nov.22) en route to 1.1473 (high Nov.20).

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 softens below 1.1800 on Fed hawkish remarks

The EUR/USD pair edges lower to around 1.1775 during the early Asian session on Wednesday, pressured by a renewed US Dollar demand. Traders await the US President Donald Trump's State of the Union address later on Wednesday for clarity on fiscal policies.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold consolidates below $5,150 as traders await Trump's State of the Union address

Gold steadies below the $5,150 level following the previous day's pullback from the monthly peak as traders opt to wait on the sidelines ahead of Trump's State of the Union address. In the meantime, trade-related uncertainties and geopolitical risks seem to act as a tailwind for the safe-haven bullion. However, the Fed's less hawkish outlook underpins the US Dollar, which, along with a positive risk tone, caps the upside for the non-yielding yellow metal.

Hyperliquid registers mild gains following CoinShares' ETP launch

Hyperliquid registered a 3% gain on Tuesday after CoinShares announced the launch of its Physical Hyperliquid Staking exchange-traded product, offering investors exposure to the token's price and staking yields.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.