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fxstreet.com
· 6 days ago
Morning briefing: EUR/USD may attempt a slow rise towards 1.1450-1.1500
Morning briefing: EUR/USD may attempt a slow rise towards 1.1450-1.1500
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EUR/USD Under Pressure as Fresh Downside Risks Emerge
Looking at the 4-hour chart, the pair settled below 1.1420, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The bears pushed the pair toward the 1.1365 support.
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Gold and silver prices remain in consolidation as investors assess geopolitical tensions, lower oil prices, and the upcoming Federal Reserve decision, which could trigger the next major move in precious metals.
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The Japanese yen weakened toward 164 against the U.S. dollar, its lowest level in around 40 years. Middle East tensions supported the dollar, while concerns about Japan's finances and the large gap between U.S. and Japanese interest rates continued to pressure the yen.
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Euro-Dollar: Lloyds Forecasts EUR/USD Fall Towards 1.12
Lloyds expects EUR/USD to retreat towards 1.1214 this summer as persistent US inflation risks restore the Dollar's interest-rate advantage. At Friday's market close, the Euro to Dollar (EUR/USD) exchange rate was quoted at $1.1371, down 0.05% on the day and from $1.1438 the previous Friday.
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XAUUSD pauses after Thursday's plunge as crude eases, while rising rate-hike odds keep the dollar and gold bears in control.
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The Pound to Dollar exchange rate held near 1.3325 on Friday, having retreated more than two cents from July's high around 1.3558. GBP/USD is still around 0.6% higher this month, but Sterling has struggled to respond to a stronger run of UK economic data.
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The Euro to Swiss Franc exchange rate has strengthened to around 0.9304, its highest closing level since January and close to July's peak at 0.9315. EUR/CHF has gained 0.8% this month and 1.3% in June, extending its recovery from the March low near 0.8981.
The ECB Is Turning More Hawkish - but EUR/USD Is Going Nowhere
The Euro remains supported by expectations of further ECB tightening, but EUR/USD is still struggling to escape the lower end of its July range. EUR/USD traded close to 1.1371 at the end of the latest session, leaving the pair near July's low after a subdued week for the single currency.
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