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.
This information has been prepared by IG, a trading name of IG US LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. Any research provided should be considered as promotional and was prepared in accordance with CFTC 1.71 and designed to promote the independence of investment research. See our Summary Conflicts Policy, available on our website.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.8 pips on EUR/USD
- Analyze market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on the most popular forex markets
See more forex live prices
Prices above are subject to our website terms and agreements. Prices are indicative only