EUR/USD: Week’s low in the 1.0656 region to offer support – Rabobank

EUR/USD defends ground above 1.1600 in European trading on Friday. The US Dollar meets fresh supply amid a better market mood, despite receding bets for Fed rate cuts, lending some support to the pair. Fedspeak awaited. 

GBP/USD edges higher to test 1.3400 in the European session on Friday after registering modest losses in the previous session. The pair draws support from a renewed bout of selling seen around the US Dollar as risk sentiment improves. The focus now turns to geopolitical developments and Fedspeak. 

Gold hovers around $4,600 during the early European hours on Friday. However, Gold prices fell amid decreasing safe-haven demand as geopolitical risks in Iran temporarily eased. US President Donald Trump signaled he may delay military action after Iran pledged not to execute protesters.

Bitcoin holds above $95,400 on Friday after rallying 5% so far this week. Ethereum and Ripple followed BTC’s footsteps, hovering around key levels after their upside moves.

Despite the influx of tariff revenue, the federal government continues to run a massive budget deficit. The December budget shortfall came in at $144.75 billion, a record for the month. That was 68 percent higher than December 2024.

Pump.fun (PUMP) edges higher by almost 5% at press time on Friday, recovering from a 3% decline the previous day. The release of the new callout feature on the Solana-based launchpad platform for creators could boost trading activity.