EUR/USD eases on Thursday, slipping below 1.0900 once again

FXStreet
Updated
Mitrade
coverImg
Source: DepositPhotos

EUR/USD sheds 0.2% to fall back below the 1.0900 handle on Thursday.


Market sentiment remains subdued overall as investors recover from Powell glut.


Fiber markets have snapped a recent win streak as the Euro falls back for a second day.


EUR/USD backslid for a second consecutive trading day, falling one-fifth of one percent on Thursday as markets continue to keep one foot in the safe haven US Dollar amid still-bubbling market tensions around the US’s waffling on tariff policy.


Federal Reserve (Fed) Chair Jerome Powell downplayed economic pitfalls at the hands of US President Donald Trump’s tariff threats that seem to exist in a quantum state where they both exist and do not exist simultaneously. According to Fed Chair Powell, downside risks have certainly elevated thanks to on-again, off-again tariff threats, but Fed policymakers continue to insist that US economic data remains healthy, albeit off of recent highs.


The Philadelphia Federal Reserve (Fed) Bank’s Manufacturing Survey for March eased to 12.5 MoM, falling from the previous month’s 18.1 and declining for the second month in a row, but pulling the brakes and falling less than the median market forecast of 8.5. US weekly Initial Jobless Claims also rose slightly less than expected, clocking in at 223K net new jobless benefits seekers compared to the previous week’s 220K. Investors had expected a print of 224K. US Existing Home Sales also rose nearly a third of a million more transactions than expected, rising to 4.26 million units moved in February compared to January’s revised 4.09 million. Market watchers had expected a slight slowing to 3.95 million.


there is little of note on Friday's economic data docket, leaving investors to grapple with and digest the week's events. Traders will also be keeping an eye out for any social media developments from President Trump. Donald Trump has made a habit of sending major proclamations into the void during Friday afternoons, prompting significant market reactions to both end the current week and kick off the next one, even though the majority of President Trump's statements have an iffy track record of coming true.


EUR/USD price forecast


EUR/USD shed weight for a second day, trimming another 20-odd pips and dragging the major pair back below the 1.0900 handle. Price action is drifting into rough sideways chop as directional momentum bleeds out of the charts, but near-term bidding action remains supported by 1.0800.


EUR/USD daily chart

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
USD/CAD rises to near 1.3900 due to easing US-China tensions, lower Oil pricesUSD/CAD is advancing for the second consecutive session, hovering around 1.3880 during Asian trading hours on Monday. The pair continues to strengthen as the US Dollar (USD) gains momentum, supported by signs of easing tensions between the US and China.
Author  FXStreet
2 hours ago
USD/CAD is advancing for the second consecutive session, hovering around 1.3880 during Asian trading hours on Monday. The pair continues to strengthen as the US Dollar (USD) gains momentum, supported by signs of easing tensions between the US and China.
placeholder
Japanese Yen bulls seem reluctant as bets for delayed BoJ rate hike offset trade uncertaintiesThe Japanese Yen (JPY) oscillates in a narrow range during the Asian session on Monday and stalls the recent pullback from a multi-month high touched against its American counterpart last week.
Author  FXStreet
2 hours ago
The Japanese Yen (JPY) oscillates in a narrow range during the Asian session on Monday and stalls the recent pullback from a multi-month high touched against its American counterpart last week.
placeholder
Australian Dollar loses ground due to rising expectations of RBA’s rate cut in MayThe Australian Dollar (AUD) extends loses for the second successive session on Monday. The AUD/USD pair is under pressure as the US Dollar (USD) strengthens amid signs of easing tensions between the US and China.
Author  FXStreet
3 hours ago
The Australian Dollar (AUD) extends loses for the second successive session on Monday. The AUD/USD pair is under pressure as the US Dollar (USD) strengthens amid signs of easing tensions between the US and China.
placeholder
AUD/USD holds below 0.6400 amid signs of easing US-China tensionsThe AUD/USD pair trades in negative territory near 0.6390 during the early Asian session on Monday. The US Dollar (USD) edges higher against the Aussie amid signs of easing US-China tensions.
Author  FXStreet
4 hours ago
The AUD/USD pair trades in negative territory near 0.6390 during the early Asian session on Monday. The US Dollar (USD) edges higher against the Aussie amid signs of easing US-China tensions.
placeholder
GBP/USD consolidates around 1.3300 mark; downside potential seems limitedThe GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow band around the 1.3300 round-figure mark during the Asian session.
Author  FXStreet
4 hours ago
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow band around the 1.3300 round-figure mark during the Asian session.
Real-time Quote