- Eurozone’s thin economic docket and German bond yield dip contribute to EUR’s decline.
- Upcoming Aussie data includes Westpac Consumer Confidence and NAB Business Confidence.
- EUR/AUD technicals suggest potential further downside with key support near 1.6100.
The Euro began the week on a lower note against the Australian Dollar, drops over 0.45% late during the North American session. A risk-off mood trade in the currency market, keept investors worried about possible tariffs by the upcoming Trump’s administration. The EUR/AUD trades at 1.6207, after reaching a daily high of 1.6284.
EUR/AUD falls as traders eye potential tariffs under Trump and await key Australian data
A scarce economic docket in the Eurozone and Australia, left traders adrift to sentiment linked to the newly elected US President Donald Trump. However, European Central Bank (ECB) members Yannis Stoumaras commented ECB rates will hit 2% goal in September of 2025.
Another reason behind the Euro’s fall was the drop of the 10-year German Bund yield, down two basis points to 2.33%.
In the meantime, the Aussie’s economic docket will feature on Tuesday the release of the Westpac Consumer Confidence for November. October’s reading was 89.8, and any measure below that level, would indicate that Australians are feeling less optimistic on the economy.
Later, the Aussie’s NAB Business Confidence for October, would be revealed. September came at -2.
On the Eurozone area, the schedule will feature German’s inflation rate, which is expected to edge up 0.4% MoM, exceeding September’s 0%. On a yearly basis, October’s inflation is expected to rise to 2%, from 1.6%.
EUR/AUD Price Forecast: Technical outlook
The EUR/AUD remains consolidates, as shown in the daily chart. However, it’s slightly tilted to the downside, as the exchange rate persists below the confluence of the 20, 50 and 100-day Simple Moving Averages (SMAs). This and the Relative Strengt Index (RSI) falling deeper, hints the cross could crack the 1.6200 in the short term.
In that event, the first support would be the 1.6100 psychological level, followed by major support at 1.6005, October 2 swing low. On the other hand, if buyers reclaim 1,6300, the next resistance area would be the confluence of daily SMAs at around 1.6327/1.6332.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.
| AUD | EUR | GBP | JPY | CAD | USD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| AUD | 0.04% | 0.04% | 0.08% | 0.07% | 0.06% | -0.00% | 0.02% | |
| EUR | -0.04% | -0.01% | 0.05% | 0.03% | 0.00% | -0.05% | -0.01% | |
| GBP | -0.04% | 0.00% | 0.08% | 0.05% | 0.03% | -0.05% | -0.00% | |
| JPY | -0.08% | -0.05% | -0.08% | -0.02% | -0.04% | -0.10% | -0.03% | |
| CAD | -0.07% | -0.03% | -0.05% | 0.02% | -0.01% | -0.08% | -0.04% | |
| USD | -0.06% | -0.01% | -0.03% | 0.04% | 0.00% | -0.06% | -0.03% | |
| NZD | 0.00% | 0.05% | 0.05% | 0.10% | 0.08% | 0.06% | 0.03% | |
| CHF | -0.02% | 0.01% | 0.00% | 0.03% | 0.04% | 0.03% | -0.03% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
Australian Dollar appreciates despite stronger US Dollar, PMI awaited
The Australian Dollar (AUD) continues to strengthen against the US Dollar (USD) following the release of mixed Judo Bank Purchasing Managers' Index (PMI) data from Australia on Friday. The AUD also benefits from a hawkish outlook by the Reserve Bank of Australia (RBA) regarding future interest rate decisions.
Japanese Yen remains on the front foot against USD, bulls seem non-committed
The Japanese Yen (JPY) attracts some buyers for the second straight day on Friday amid reviving bets for more interest rate hikes by the Bank of Japan (BoJ), though it lacks any follow-through.
Gold advances to near two-week high, eyes $2,700 on geopolitical tensions
Gold price (XAU/USD) prolongs its uptrend for the fifth consecutive day on Friday and climbs to a nearly two-week top, around the $2,690-2,691 area during the Asian session. Intensifying Russia-Ukraine tensions force investors to take refuge in traditional safe-haven assets and turn out to be a key factor underpinning the precious metal.
Ethereum Price Forecast: ETH open interest surge to all-time high after recent price rally
Ethereum (ETH) is trading near $3,350, experiencing an 10% increase on Thursday. This price surge is attributed to strong bullish sentiment among derivatives traders, driving its open interest above $20 billion for the first time.
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the United States.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.