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.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
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.

liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

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.