Euro holds modest gains above 1.1400 vs USD as Mideast tensions cap

The post EUR/GBP Price Forecast: Languishes below 0.8550 with bullish attempts subdued appeared on BitcoinEthereumNews.com. The Euro (EUR) keeps treading water right above one-year lows against the British Pound (GBP) on Thursday. The EUR/GBP is trading flat in the area of 0.8530 at the time of writing, weighed by rising tensions between the US and Iran and the rebound in oil prices. In the Eurozone, German Trade Balance data beat expectations with a EUR 19.1 billion surplus in May, from the 14.5 billion surplus seen in April, as exports grew against expectations. The data, however, has failed to provide any significant support to the Euro. Meanwhile, the US has launched a new round of attacks in Iran, which targeted US bases in Gulf countries in retaliation. US President Donald Trump said on Wednesday that the ceasefire was over, and Crude prices have bounced up nearly10% with Brent Oil hitting the $80 level on Wednesday, after bottoming near $70.00 last week. Technical Analysis: EUR/

The post Euro: Support zone key for next leg against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang highlights that EUR/USD momentum has flattened, with the Euro expected to trade between 1.1395 and 1.1440 intraday. Over 1–3 weeks, the pair is seen in a broader 1.1360–1.1450 range-trading phase. On a 1–3 month view, a break of the 1.1390/1.1410 support zone would target 1.1210. Euro-Dollar locked in range phase “24-HOUR VIEW: EUR fell to a low of 1.1407 on Tuesday. Yesterday, we highlighted the following: “Despite the relatively sharp decline, downward momentum has not increased much. However, there is scope for EUR to dip below 1.1390. The major support at 1.1360 is unlikely to come into view. Resistance is at 1.1420; a breach of 1.1430 would indicate that the immediate downward pressure has eased.” EUR subsequently declined and printed a low of 1.1390 before recovering to close largely unchanged at 1.1414 (+0.03%). Momentum indicators

The post AUD/USD Price Forecast: 0.6860 is key support level amid geopolitical risks appeared on BitcoinEthereumNews.com. The Australian Dollar (AUD) trades marginally higher at around 0.6935 against the US Dollar (USD) during the European trading session on Thursday. The Aussie pair edges up as the US Dollar ticks lower despite escalating Middle East risks and hawkish Federal Open Market Committee (FOMC) Minutes of the June policy meeting. At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.13% lower to near 100.92. The attacks on Iranian infrastructure by United States (US) military forces signal that the restart of the war would last long, a scenario that might keep oil prices higher and the appeal of safe-haven assets upbeat. According to Axios, the US Air Force bombed two railway bridges in Iran on Wednesday. Meanwhile, the FOMC Minutes showed on Wednesday that policymakers are concerned about upside inflation risks a

The post Pound Sterling Price News and Forecast: GBP/USD gains ground to around 1.3395 appeared on BitcoinEthereumNews.com. British Pound strengthens to near 1.3400 as UK political risk fades The GBP/USD pair gathers strength near 1.3395 during the Asian trading hours on Thursday, bolstered by fading domestic political uncertainty. However, hawkish minutes from the Federal Reserve (Fed) and renewed tensions between the US and Iran might support the US Dollar (USD) and cap the upside for the major pair. Following the resignation of Keir Starmer in late June, UK political risk has eased significantly, lifting the Cable. The formal race to replace outgoing Prime Minister Keir Starmer begins on July 9. Frontrunner Andy Burnham is widely expected to become Prime Minister by July 20. Read more… British Pound Sterling wins the day and stays stuck in the same trap GBP/USD trades just below 1.3400 on Wednesday, up around a quarter of a percent and once again leaning on the 200-day Exponential M

The post United States Dollar Index stays pressured, lacks follow-through appeared on BitcoinEthereumNews.com. The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, trades with a negative bias for the second straight day, though it remains confined within the previous day’s range through the Asian session on Thursday. The index is currently placed just below the 101.00 mark, down just 0.10% for the day. The US Dollar (USD) bulls seem hesitant in the absence of a notable hawkish shift in the FOMC Minutes, though bets for a rate hike in 2026 and geopolitical uncertainties act as a tailwind for the index. The Minutes from the June 16–17 FOMC meeting, released on Wednesday, revealed that policymakers were divided with regard to the direction of interest rates. The minutes further stated that many participants indicated the appropriate level of the fed funds rate would be within or slightly below the current target range at the end of this year. Fed officials

The post Euro strengthens ahead of Germany’s Trade Balance data appeared on BitcoinEthereumNews.com. EUR/USD extends its gains for the second successive day, trading around 1.1430 during the Asian hours on Thursday. The Euro (EUR) receives support against the US Dollar (USD) ahead of Germany’s Trade Balance data release later in the day. Traders will likely shift their focus to Friday’s Harmonized Index of Consumer Prices (HICP) data. The US Dollar (USD) underperforms as the Federal Reserve’s (Fed) June Meeting Minutes underscored a widening rift among policymakers during Kevin Warsh’s debut meeting as FOMC Chairman on June 16–17. While a portion of the committee anticipated that the benchmark rate, currently holding at a target range of 3.50% to 3.75%, would likely end the year unchanged or lower, a hawkish contingent strongly argued that persistent price pressures would require a rate hike by year-end. However, this internal friction has reinforced market expectations that the US cen

The post Gold struggles as Hormuz risks, Fed hike bets limit USD weakness appeared on BitcoinEthereumNews.com. Gold (XAU/USD) struggles to capitalize on the previous day’s bounce from the $4,020 area, or a one-week low, and oscillates in a narrow range during the Asian session on Thursday. The US Dollar (USD) remains on the back foot in the absence of a notable hawkish shift in the FOMC Minutes and acts as a tailwind for the bullion. However, renewed US-Iran hostilities revive inflation fears and bolster bets on a US Federal Reserve (Fed) rate increase in 2026. This helps limit the downside for the USD and continues to undermine the non-yielding yellow metal. The Minutes from the June 16–17 FOMC meeting, released on Wednesday, revealed that policymakers were divided with regard to the direction of interest rates. The minutes further stated that many participants indicated the appropriate level of the federal funds rate would be within or slightly below the current target range at the e

The post Euro steadies as Middle East strikes offsets Fed repricing appeared on BitcoinEthereumNews.com. The Euro holds firm against the US Dollar on Wednesday as hostilities in the Middle East continued, with the US attacking Iran for the second straight day at around the Strait of Hormuz. At the time of writing, the EUR/USD trades at 1.1420, after bouncing off daily lows of 1.1391. EUR/USD holds firm as Fed minutes, Hormuz strikes lift USD The US Central Command revealed in a post that “At the direction of the Commander in Chief, US Central Command forces have started conducting additional strikes against Iran to further degrade their ability to threaten freedom of navigation in the Strait of Hormuz.” The markets reacted immediately to the headline, as risk appetite soured, as depicted by US equity markets finishing Wednesday’s session with losses. Crude prices are registering a leg up, with Western Texas Intermediate (WTI), the US Oil benchmark, up 3.57% at $74.77. Earlier, the Fede