- EUR/USD posted mild gains in Asia, despite the weaker-than-expected China trade data release.
- The heightened fears of a global growth slowdown, however, could cap gains in the euro.
The EUR/USD pair could come under pressure in Europe, as the global growth fears triggered by the below-forecast China trade numbers are likely to reverberate through the European and the US financial markets.
China, the world's second-largest economy, reported a trade surplus for December. That, however, was the product of a big slide in imports and a meager rise in exports.
Put simply, the domestic demand in China is unlikely to compensate for the decline the downward pressure on the economy created by the trade war with the US. As a result, the growth rate could drop sharply in the near future.
Further, the dismal rise in Chinese exports could be considered a sign that the global economy isn't doing any well either.
The stocks, therefore, could feel the pull of gravity, boosting the haven demand for the treasuries (US dollar). As of writing, the S&P 500 futures are down 0.70 percent.
Hence, the EUR/USD may drop into the red in Europe. As of writing, the pair is trading at 1.1473, having picked up a bid at 1.1458 in Asia.
EUR/USD Technical Levels
EUR/USD
Overview:
Today Last Price: 1.1476
Today Daily change: 13 pips
Today Daily change %: 0.113%
Today Daily Open: 1.1463
Trends:
Previous Daily SMA20: 1.1423
Previous Daily SMA50: 1.1384
Previous Daily SMA100: 1.1476
Previous Daily SMA200: 1.1627
Levels:
Previous Daily High: 1.1541
Previous Daily Low: 1.1458
Previous Weekly High: 1.1571
Previous Weekly Low: 1.1396
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Previous Daily Fibonacci 38.2%: 1.1489
Previous Daily Fibonacci 61.8%: 1.1509
Previous Daily Pivot Point S1: 1.1434
Previous Daily Pivot Point S2: 1.1404
Previous Daily Pivot Point S3: 1.1351
Previous Daily Pivot Point R1: 1.1516
Previous Daily Pivot Point R2: 1.157
Previous Daily Pivot Point R3: 1.1599
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
Gold sits at record highs above $3,000 on escalating geopolitical tensions
Gold price is sitting at record highs beyond $3,000 early Tuesday on intensifying geopolitical Middle East tensions. Israel resumes military operations against Hamas in Gaza after the group rejected US proposals for extending ceasefire. Further US-Iran tensions add to the latest leg up in the safe-haven Gold.
EUR/USD drops to test 1.0900 ahead of German vote on spending plans
EUR/USD tunrs loswer ro near 1.0900 in early Europe on Tuesday. Escalating Middle East tensions and EU-US tariff war lift the US Dollar and weigh on the pair. Meanwhile, Euro buyers stay defensive ahead of the German vote on the fiscal spending plans.
GBP/USD falls toward 1.2950 as US Dollar rebounds on cautious markets
GBP/USD falls back toward 1.2950 in the early European trading hours on Tuesday. The pair faces headwinds from a renewed US Dollar uptick as investors run for cover amid intensifying trade and geopolitical jitters. The focus stays on mid-tier US data and Middle East tensions.
Ethereum consolidates below $2,000 as Standard Chartered alters its prediction for 2025
Ethereum remained just below $2,000 in the Asian session on Tuesday as Standard Chartered's Global Head of Digital Assets Research, Geoffrey Kendrick, updated the bank's 2025 price forecast for ETH.
Five Fundamentals for the week: Fed leads central bank parade as uncertainty remains extreme Premium
Central bank bonanza – perhaps its is not as exciting as comments from the White House, but central banks still have sway. They have a chance to share insights about the impact of tariffs, especially when they come from the world's most powerful central bank, the Fed.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.