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EUR: Still reluctant to chase euro much higher – ING
We stick to our call that EUR/USD will start to lose support once crossing 1.040, as the euro remains broadly unattractive from a macro fundamental perspective and Trump has indicated that the EU should be next on the tariff list.Fxstreet
Feb 5, 2025
Pound Sterling faces pressure as BoE’s policy decision looms large
The Pound Sterling (GBP) underperforms its major peers, except the US Dollar (USD), on Wednesday as investors turn cautious ahead of the Bank of England’s (BoE) monetary policy decision, which will be announced on Thursday.
Fxstreet
Feb 5, 2025
Forex Today: US Dollar retreats, Gold renews record-high as markets await US data
Here is what you need to know on Wednesday, February 5: After weakening against its major rivals on improving risk mood and disappointing US data on Tuesday, the US Dollar (USD) struggles to hold its ground early Wednesday. Later in the session, the US economic calendar will feature ADP...
Fxstreet
Feb 5, 2025
EU prepares to hit Big Tech in retaliation for Trump’s tariffs – FT
Citing two officials with knowledge of the plans, the Financial Times (FT) reported on Wednesday that the European Commission is preparing to deploy its “anti-coercion instrument” (ACI) in a potential retaliation to US President Donald Trump’s tariffs, which would enable the European Union (EU) to target US service sectors like Big Tech.Fxstreet
Feb 5, 2025
EUR/USD lacks firm intraday direction, stuck in a range around 1.0375-1.0380 zone
The EUR/USD pair struggles to capitalize on this week's solid recovery from the 1.0200 neighborhood, or the lowest level since January 13, and oscillates in a range near the weekly top touched earlier this Wednesday.Fxstreet
Feb 5, 2025
Japanese Yen rallies on strong wage growth data; USD/JPY slumps to mid-153.00s
The Japanese Yen (JPY) attracts fresh buyers after data released during the Asian session on Wednesday showed a rise in Japan's real wages, which reaffirms bets that the Bank of Japan (BoJ) will raise interest rates again.
Fxstreet
Feb 5, 2025
USD/CAD consolidates above 1.4300 mark; upside potential seems limited
USD/CAD struggles to gain any meaningful traction and hangs near a two-week trough. Subdued Oil prices and the BoC’s dovish outlook undermine the Loonie and cap the pair. The USD languishes near the weekly low and further acts as a headwind for spot prices.
Fxstreet
Feb 5, 2025
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