EUR/USD remains stable following French inflation data that came in below forecasts, reinforcing expectations for continued restrictive European Central Bank monetary policy. The softer-than-expected French inflation figures suggest price pressures may be easing faster than anticipated, potentially giving the ECB more flexibility in future policy decisions. However, the central bank is likely to maintain its current restrictive stance to ensure inflation returns sustainably to target. The euro showed limited reaction to the data as markets had already positioned for potential downside surprises in eurozone inflation. Technical levels for EUR/USD remain well-defined, with the pair trading within established ranges. Traders are now looking ahead to eurozone-wide inflation data and any ECB official commentary for further policy clues. The inflation undershoot could eventually support arguments for earlier rate cuts, but near-term EUR/USD direction will likely depend more on dollar dynamics and risk sentiment.
EURUSD
Sentiment:
Neutral
Source: Marketaux
EUR/USD declined 0.2% to 1.0545 as Spain's November preliminary CPI came in at 3.0% year-over-year, above the 2.9% forecast, while HICP reached 3.1% versus 2.9% expected. The higher-than-anticipated inflation data, particularly the marginal increase in core inflation to 2.6%, presents a challenge for the ECB's rate cut trajectory. Spain joins Germany in maintaining sticky inflation levels that complicate the central bank's monetary policy normalization efforts. The persistent inflationary pressures suggest the ECB may need to maintain a more hawkish stance longer than markets anticipated, supporting the euro in the near term. Technical resistance for EUR/USD sits at 1.0600, while support has formed at 1.0520. Traders should monitor upcoming Eurozone-wide inflation data for confirmation of this trend, as sustained inflation could delay ECB rate cuts into 2025.
EURUSD
Sentiment:
Positive
Source: Finnhub
GBP/USD extended its impressive winning streak to seven consecutive sessions, climbing to 1.3240 in early Friday trading, marking a gain of approximately 0.8% (105 pips) for the week. The pound's strength follows positive market reception of the UK autumn budget, which showed fiscal discipline while supporting growth initiatives. Sterling's momentum has been further supported by expectations that the Bank of England will maintain a cautious approach to rate cuts, contrasting with more dovish expectations for the Federal Reserve. Technical indicators show the pair breaking above the 1.3200 psychological resistance, with next targets at 1.3280 (October highs). Support has formed at 1.3180 (previous resistance turned support). Traders are now focused on upcoming central bank decisions, with the Fed meeting on December 18 and the BoE on December 19, which could determine whether the pound's rally continues into year-end.
GBPUSD
Sentiment:
Very Positive
Source: Marketaux
EUR/USD eased 0.2% (23 pips) to 1.1580 during Friday's Asian session, pulling back from a three-day winning streak that had pushed the pair near 1.1620. The modest retreat reflects profit-taking after the euro's recent gains, though downside remains limited by growing expectations of Federal Reserve rate cuts in 2025. Markets are pricing in a 70% probability of a 25 basis point Fed cut at the December meeting, following softer US inflation data earlier this week. The euro faces headwinds from concerns about eurozone growth, with Germany's economic outlook particularly weak. Technical analysis shows immediate support at 1.1550 (50-day moving average), while resistance sits at 1.1620 (Thursday's high). A decisive break below 1.1550 could accelerate losses toward 1.1500, though dovish Fed expectations and year-end flows may continue supporting the pair above key support levels.
EURUSD
Sentiment:
Neutral
Source: Marketaux
USD/JPY traded relatively unchanged at 151.45 following the release of Tokyo inflation data that reinforced expectations for a Bank of Japan rate hike in December. Tokyo's core CPI accelerated to 2.2% year-on-year in November, up from 1.8% in October, exceeding the BOJ's 2% target and marking the highest reading in four months. The inflation uptick, driven by reduced government subsidies and rising service prices, strengthens the case for the BOJ to raise rates from the current 0.25% at its December 19 meeting. Markets are pricing in a 60% probability of a 25 basis point hike. The yen's gains remain capped by persistent yield differentials, with US 10-year yields still 350 basis points above Japanese equivalents. Technical resistance stands at 152.00 (weekly high), while support lies at 150.80 (200-day moving average). Traders await next week's US NFP data and further BOJ commentary for directional cues.
USDJPY
Sentiment:
Negative
Source: Marketaux
USD/JPY is trading cautiously near 151.50 as markets await Friday's crucial Tokyo CPI release, a key inflation indicator that could influence the Bank of Japan's monetary policy stance. The Tokyo CPI serves as a reliable predictor for nationwide inflation trends and will be closely scrutinized ahead of the BOJ's December 18-19 meeting. Current market positioning suggests heightened sensitivity to any upside surprises in the inflation data, which could strengthen expectations for further BOJ policy normalization. Recent yen weakness has kept USD/JPY elevated above the 151.00 psychological level, though upside momentum remains limited by uncertainty over Japan's inflation trajectory. Technical indicators show immediate resistance at 152.00, while support lies at 150.80. A stronger-than-expected CPI reading could trigger yen appreciation and push USD/JPY toward the 150.00 handle, particularly if it reinforces speculation about potential BOJ action next month.
USDJPY
Sentiment:
Neutral
Source: Finnhub
NZD/USD posted its strongest daily gain of 1.4% following the Reserve Bank of New Zealand's decision to cut interest rates by 25 basis points. The pair's bullish momentum has pushed prices toward critical swing area resistance levels, marking the next significant technical hurdle. The RBNZ's dovish guidance, suggesting rates will remain steady for an extended period, initially seemed bearish for the currency. However, traders interpreted this as reducing uncertainty, triggering aggressive buying that made NZD/USD the day's best performer among major pairs. Technical analysis indicates the pair is approaching key resistance zones that have capped previous rallies. A successful break above these levels could open the path toward higher targets, while failure might trigger profit-taking. Traders should monitor upcoming economic data from both New Zealand and the US for further directional cues, with particular attention to any shifts in central bank rhetoric.
NZDUSD
Sentiment:
Very Positive
Source: Finnhub
Both GBP/USD and EUR/USD are displaying compelling technical setups that warrant close trader attention in the current market environment. The analysis highlights two specific trade setups emerging in these major currency pairs, suggesting potential directional moves are imminent. Market positioning indicates traders are closely monitoring these pairs for breakout or reversal opportunities, with technical indicators pointing to possible trend continuation or reversal patterns. The current risk-reward profiles for both pairs appear attractive for active traders seeking exposure to major currency movements. Key support and resistance levels have been identified, providing clear entry and exit points for potential trades. With both the European Central Bank and Federal Reserve policies remaining crucial market drivers, any shifts in monetary policy expectations could significantly impact these setups. Traders should implement appropriate risk management strategies while monitoring economic data releases that could influence pair dynamics.
GBPUSD
EURUSD
Sentiment:
Negative
Source: Marketaux
EUR/USD holds steady near 1.0500 as Eurozone economic sentiment data presents a mixed picture. The November economic confidence index edged up to 97.0 from 96.8 previously, meeting market expectations. Services confidence improved notably to 5.7 from 4.0, suggesting resilience in the region's dominant sector. However, industrial confidence deteriorated sharply to -9.3 versus -8.0 expected, highlighting manufacturing sector struggles amid weak global demand. Consumer confidence remained unchanged at -14.2, confirming preliminary readings. The mixed data is unlikely to alter the European Central Bank's current policy trajectory, with markets still pricing in potential rate cuts in 2025. Technical levels show EUR/USD facing resistance at 1.0550, while support remains firm at 1.0470. Traders await upcoming US economic releases for clearer directional cues on the pair.
EURUSD
Sentiment:
Very Positive
Source: Finnhub
GBP/USD has strengthened following UK Chancellor Rachel Reeves' budget announcement, with sterling gaining momentum as 10-year gilt yields fell to 4.42% on Wednesday. The pound's appreciation reflects market confidence in the government's fiscal management, despite concerns about increased borrowing. Reeves emphasized her commitment to controlling public debt, rejecting claims that tax increases were purely welfare-driven. The bond market's positive reaction, with the absence of vigilante selling pressure, has provided support for sterling. Technical analysis shows GBP/USD testing resistance near 1.2700, with immediate support at 1.2650. The calm bond market response contrasts sharply with previous UK fiscal announcements, suggesting improved credibility. Traders should monitor upcoming UK economic data and any shifts in gilt yields, as sustained bond market stability could further support sterling strength against the dollar.
GBPUSD
Sentiment:
Positive
Source: Finnhub
GBP/USD extends its recovery momentum, trading above 1.2650 as UK Chancellor Rachel Reeves' fiscal policies continue to underpin sterling strength. The pound has gained 0.4% against the dollar this week, benefiting from improved market confidence in the UK's economic outlook following recent budget announcements. The dollar index has retreated to four-month lows near 106.00, providing additional support for cable's advance. EUR/GBP remains under pressure at 0.8330, highlighting sterling's relative outperformance among major currencies. USD/JPY holds steady around 151.50 as traders balance dollar weakness against Bank of Japan policy expectations. Technical indicators suggest GBP/USD could test resistance at 1.2700 if current momentum persists. Key support levels are identified at 1.2600 and 1.2550. Market participants await Thursday's US GDP data and Friday's UK manufacturing PMI for further directional catalysts.
GBPUSD
EURUSD
USDJPY
EURGBP
Sentiment:
Positive
Source: Marketaux
EUR/USD surged through the 1.1600 psychological level on Thursday, marking a 0.5% gain as the US dollar index tumbled to its lowest level since July at 105.80. The pair's bullish momentum accelerated after breaking above Wednesday's high of 1.1580, with buyers now eyeing the next resistance at 1.1650. Dollar weakness stems from growing expectations that the Federal Reserve may pause its tightening cycle, following softer inflation indicators and signs of economic cooling. The euro found additional support from better-than-expected Eurozone services data, which offset manufacturing sector concerns. Technical analysis shows strong buying interest above the 20-day moving average at 1.1520, establishing a firm support base. The weekly chart suggests EUR/USD could extend gains toward 1.1700 if the dollar index breaks below the critical 105.50 support. Traders should monitor Friday's US PCE inflation data for potential volatility.
EURUSD
Sentiment:
Very Positive
Source: Marketaux
GBP/USD surged to 1.3150, marking its highest level since late October, gaining 0.4% (52 pips) in Tuesday's session. The pair initially dipped following the UK budget release but found strong support at the 200-hour moving average (1.31239), above the 100-hour MA at 1.31145. The dollar's broad weakness stems from renewed market expectations of a Federal Reserve rate cut in December, with futures now pricing in a 65% probability of a 25-basis-point reduction. Sterling's resilience despite budget concerns demonstrates underlying strength, with technical momentum firmly bullish. Immediate resistance lies at 1.3175 (October highs), while support has consolidated around the 200-hour MA. A sustained break above 1.3175 could open the path toward 1.3200, particularly if Fed officials maintain their dovish stance in upcoming speeches.
GBPUSD
Sentiment:
Very Positive
Source: Finnhub
The US Dollar Index fell 0.5% to 105.20 as traders dramatically repriced December Federal Reserve rate cut probabilities following dovish comments from Fed officials. Markets now assign a 70% chance of a 25-basis-point cut at the December 18 FOMC meeting, up from 45% last week. This shift has triggered broad dollar weakness across major pairs, with EUR/USD gaining 0.4%, GBP/USD rising 0.5%, and USD/JPY dropping 0.6%. Recent US economic data showing moderating inflation and cooling labor markets has reinforced expectations for monetary easing. The dollar's technical outlook has turned bearish, with the DXY breaking below its 50-day moving average at 105.75. Further downside toward 104.50 support appears likely if rate cut expectations remain elevated through upcoming economic releases, particularly this week's ISM Services PMI and Friday's unemployment data.
EURUSD
GBPUSD
USDJPY
Sentiment:
Negative
Source: Marketaux
Deutsche Bank has revised its gold price forecast upward for 2026, projecting a trading range of $3,950 to $4,950 per ounce, representing potential gains of up to 85% from current levels. The bank cites persistent central bank demand as the primary driver, with Q3 supply-demand data revealing inelastic demand from official institutions. Central banks have been net buyers for 14 consecutive quarters, diversifying reserves away from traditional currencies amid geopolitical tensions. ETF investment flows are also diverting supply from the jewelry market, creating additional price pressure. The structural shift in gold demand patterns suggests sustained support above $2,600, with resistance emerging at $2,800. For forex traders, the bullish gold outlook typically signals potential USD weakness and may benefit commodity-linked currencies like AUD and CAD. The forecast implies continued monetary policy uncertainty and inflation concerns through 2026.
XAUUSD
Sentiment:
Very Positive
Source: Finnhub
GBP/USD advanced to 1.3165, approaching key resistance at 1.3200, while WTI crude oil tumbled 2.3% to $68.45 per barrel on growing global demand worries. Sterling's strength reflects both dollar weakness and reduced UK inflation concerns as lower oil prices ease cost pressures. The pound has gained 0.6% against the dollar this week, with technical indicators showing strong bullish momentum. RSI at 68 suggests room for further gains before overbought conditions emerge. Oil's decline stems from China's weaker-than-expected manufacturing data and rising US crude inventories, which increased by 3.6 million barrels last week. For GBP/USD traders, a decisive break above 1.3200 could trigger acceleration toward 1.3250, while oil's continued weakness may support sterling by reducing UK imported inflation pressures. Key support sits at 1.3120, coinciding with the ascending trendline from November lows.
GBPUSD
Sentiment:
Positive
Source: Marketaux
EUR/GBP declined 0.3% to 0.8315 as sterling outperformed following the UK autumn budget announcement, which proved less hawkish on spending than feared. The cross pair has broken below its 20-day moving average at 0.8330, signaling potential for further euro weakness against the pound. Market positioning shows traders reducing euro longs ahead of Thursday's ECB meeting, where officials are expected to maintain their gradual easing bias. UK Chancellor's budget included moderate tax increases but avoided aggressive spending cuts, supporting business confidence. Technical analysis reveals immediate support at 0.8300 psychological level, with a break potentially accelerating losses toward 0.8250. The euro faces additional headwinds from weak German industrial production data (-1.4% MoM) and persistent growth concerns. Traders should monitor ECB President Lagarde's press conference for any shifts in monetary policy guidance that could impact the cross rate.
EURGBP
Sentiment:
Negative
Source: Marketaux
NZD/USD surged 0.8% to 0.5920 following the Reserve Bank of New Zealand's decision to cut interest rates by 25 basis points to 4.25%, while signaling a potential end to its easing cycle. The hawkish undertones in the RBNZ's statement surprised markets, with officials indicating that current rate levels may be sufficient to achieve their inflation targets. The central bank noted improving economic conditions and stable inflation expectations near the 2% target. Technical indicators show NZD/USD breaking above the 50-day moving average at 0.5885, with immediate resistance at 0.5950. The AUD/NZD cross weakened 0.5% as the kiwi outperformed its Australian counterpart. Traders are now focusing on upcoming New Zealand retail sales data for further directional cues. The RBNZ's cautious stance contrasts with expectations for continued Fed easing, potentially supporting NZD/USD in the near term.
NZDUSD
AUDNZD
GBPUSD
Sentiment:
Very Positive
Source: Marketaux
NZD/USD attempted a recovery to 0.5880 but failed to break above this critical resistance level, currently trading at 0.5865 with a modest 0.1% gain. The kiwi's upside remains capped by the convergence of the 50-day moving average and horizontal resistance at 0.5880-0.5890. Despite broad dollar weakness supporting the pair, New Zealand's domestic challenges including weak business confidence (-32.4 in November) and RBNZ's dovish stance limit substantial gains. The central bank is expected to cut rates by 50 basis points at its November 27 meeting, which could pressure the currency further. Technical indicators show neutral momentum, with RSI at 48 suggesting consolidation. A decisive break above 0.5890 is needed to target 0.5950, while failure could see the pair revisit recent lows at 0.5820. Traders await tonight's New Zealand trade balance data for fresh directional cues.
NZDUSD
Sentiment:
Neutral
Source: Marketaux
GBP/USD trades near 1.2680 in early European hours as markets brace for significant volatility from today's UK Autumn Budget announcement and US Jobless Claims data. The pound has shown resilience above the 1.2650 support level, though uncertainty surrounding Chancellor's fiscal measures could trigger sharp moves in either direction. Market participants are particularly focused on potential tax changes and spending commitments that could influence Bank of England's monetary policy outlook. Later in the US session, weekly Jobless Claims figures will provide fresh insights into labor market conditions, with economists expecting claims to remain near 220K. Technical indicators suggest GBP/USD is consolidating within a 1.2650-1.2720 range, with a breakout likely following the key risk events. Traders should prepare for heightened volatility as both events could significantly impact sterling's near-term trajectory against the dollar.
GBPUSD
Sentiment:
Negative
Source: Finnhub
