EUR/USD trims losses, back around 1.2270

The pair staged a rebound from lows around 1.2250.
DXY is now coming under pressure after testing tops near 90.30.
US Initial Claims and Trade Balance figures next on tap.

Pablo Piovano FXStreet

After bottoming out in the mid-1.2200s earlier in the session, a now softer tone around the greenback is allowing EUR/USD to rebound to the 1.2270/75 band.

EUR/USD now looks to data

The pair keeps the familiar range around 1.2270 on Thursday, coming up after briefly testing the mid-1.2200s as some selling pressure emerged in the buck following fresh daily tops in the US Dollar Index.

EUR paid little attention to disappointing final Services PMIs and Retail Sales in Euroland for the month of February, while Producer Prices surprised to the upside during the same period (0.1% MoM and 1.6% YoY).

Later in the session, the usual US Initial Claims is due seconded by February’s Trade Balance figures and the speech by Atlanta Fed R.Bostic (voter, centrist).

EUR/USD levels to watch

At the moment, the pair is flat at 1.2277, facing immediate contention at 1.2249 (low Apr.3) followed by 1.2241 (low Mar.21) and finally 1.2206 (low Feb.9). On the upside, a break above 1.2327 (10-day sma) would target 1.2478 (high Mar.27) en route to 1.2537 (high Jan.25).

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 keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold battle around $5,000 continues

Gold is giving back part of Friday’s sharp rebound, deflating below the key $5,000 mark per troy ounce as the new week gets underway. Modest gains in the US Dollar are keeping the metal in check, while thin trading conditions, due to the Presidents Day holiday in the US, are adding to the choppy and hesitant tone across markets.

AI Crypto Update: Bittensor eyes breakout as AI tokens falter

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.