CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

EUR/USD and GBP/USD fall, while USD/JPY drifts sideways

Poor economic data is driving the euro and sterling lower, as investors move back to a risk-off mindset.

EUR/USD pushes lower on PMI news

The EUR/USD decline continues here, and indeed may be gathering pace.

The weakness over the past 24 hours has seen the price push below $1.0815, the lows over the last week, creating a more bearish view, the price having spent the past five sessions trying without success to clear resistance around $1.088. Below $1.0775, the price heads towards the late-March lows at $1.086.

GBP/USD takes a bearish turn

GBP/USD's two bounces over the past 24 hours towards $1.237 have been rebuffed, and it looks like the price is turning sharply lower as a result.

The next target is Tuesday’s low at $1.225, and then $1.2185 comes into play. Overall, the bearish impression is still firmly in place, with the price having drifted lower since the middle of the month.

USD/JPY stuck in narrow range

Volatility has been contained here, as the USD/JPY price is mostly moving in small daily ranges.

However, it is showing reluctance to challenge the ¥108.00 area on the upside, and dips towards ¥107.40 have found buyers. A break of this tight range is needed to establish a new direction.


The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.