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EUR/GBP Price Analysis: Pair trades near 0.8600 amid neutral short-term signals
EUR/GBP Price Analysis: Pair trades near 0.8600 amid neutral short-term signals
The EURGBP pair eased slightly on Wednesday, slipping toward the lower end of its recent consolidation range after the European session. The pair was last seen hovering near the 0.8600 area, reflecting a mild pullback within a still-bullish technical setup.
Crosses
Technical Analysis
Currencies
EURGBP
US Treasury Secretary Bessent: No unilateral tariff cuts for China
US Treasury Secretary Bessent: No unilateral tariff cuts for China
On Wednesday, United States (US) Treasury Secretary Scott Bessent crossed the wires to discuss the trade war between China and his country. He commented that President Donald Trump has not offered to unilaterally lower tariffs on China.
China
UnitedStates
Politics
AUDUSD
DollarIndex
EUR/USD Price Analysis: Edges lower toward 1.1400 zone despite bullish trend structure
EUR/USD Price Analysis: Edges lower toward 1.1400 zone despite bullish trend structure
The EUR/USD pair eased lower on Wednesday, retreating slightly toward the 1.1400 zone after a recent bullish streak.
Technical Analysis
Currencies
EURUSD
Majors
Bullish
Why China's Xi will not call Trump
Why China's Xi will not call Trump
Xi doesn't do the calling
Politics
Bessent: No unilateral offer from Trump to cut China tariffs
Bessent: No unilateral offer from Trump to cut China tariffs
Some comments from Bessent and initial downside in stock markets
Politics
USD
GBP/USD slips beneath 1.3300 as USD gains on Powell relief and trade optimism
GBP/USD slips beneath 1.3300 as USD gains on Powell relief and trade optimism
The Pound Sterling (GBP) depreciates against the Greenback on Wednesday, yet slightly recovered after diving to four-day lows of 1.3230. Traders seemed relieved that US President Donald Trump, although angry with Federal Reserve (Fed) Chair Powell, is not looking to sack him.
Currencies
Fed
Majors
GBPUSD
Canadian travel to US shows shows a steep decline
Canadian travel to US shows shows a steep decline
Statistics Canada released February travel data
US: How much revenue can tariffs bring? – Standard Chartered
US: How much revenue can tariffs bring? – Standard Chartered
Tariff revenue won't compensate for the fiscal costs of TCJA extensions. Added tariff revenues will be below 1% of GDP – most likely 0.5-0.9% of GDP. Unfunded tax cuts could put further upward pressure on US rates, Standard Chartered's analysts report.
US Elections
UnitedStates
Politics
Banks
Macroeconomics
CAD unruffled by overnight swings, holds range – Scotiabank
CAD unruffled by overnight swings, holds range – Scotiabank
The Canadian Dollar (CAD) is little changed on the day as spot continues to consolidate.
Technical Analysis
Canada
BOC
USDCAD
Banks
GBP jostled by sentiment, headline risks – Scotiabank
GBP jostled by sentiment, headline risks – Scotiabank
The Pound Sterling (GBP) weakens and enters Wednesday’s American session with a modest decline, trading in tandem with the Euro (EUR), around the Trump trade/Fed headlines, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
Banks
GBPUSD
Silver Price Forecast: XAG/USD jumps to near $33 as US-China trade tensions ease
Silver Price Forecast: XAG/USD jumps to near $33 as US-China trade tensions ease
Silver price (XAG/USD) trades firmly around $33.00 during North American trading hours on Wednesday. The white metal strengthens as fears of an intense trade war between the United States (US) and China have diminished after President Donald Trump signaled the possibility of a deal with Beijing.
Silver
SupportResistance
TradeWar
Fed
XAGUSD
S&P global manufacturing PMI for April 50.7 versus 49.1 estimate.
S&P global manufacturing PMI for April 50.7 versus 49.1 estimate.
S&P global manufacturing and services PMI data for April 2025.
Stocks
White House considers slashing China tariffs to de-escalate trade war – WSJ
White House considers slashing China tariffs to de-escalate trade war – WSJ
The Wall Street Journal reported on Wednesday that the White House is considering slashing tariffs on Chinese goods to de-escalate the trade conflict.
China
UnitedStates
Politics
Macroeconomics
JPY fades as sentiment recovers – Scotiabank
JPY fades as sentiment recovers – Scotiabank
Japanese Yen (JPY) is soft, down 0.2% against the US Dollar (USD) and underperforming most of the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
BOJ
Japan
USDJPY
Banks
EUR consolidated around 1.14 – Scotiabank
EUR consolidated around 1.14 – Scotiabank
The Euro (EUR) is soft and entering Wednesday’s NA session with a modest decline against the US Dollar (USD), having recovered from a short-lived bout of early Asian session weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
EURUSD
Banks
USD consolidates as trade/Fed concerns ease – Scotiabank
USD consolidates as trade/Fed concerns ease – Scotiabank
Markets are trading with a sense of relief this morning. Late yesterday, President Trump said he had no intention of firing Fed Chair Powell and remarked that the 145% tariffs on China could be reduced substantially following a trade deal.
Technical Analysis
Fed
Banks
DollarIndex
US PMIs, new home sales, Beige Book and Waller highlight the agenda
US PMIs, new home sales, Beige Book and Waller highlight the agenda
What's on the US economic calendar today
economic calendar
ECB's Nagel: World economy is in very delicate situation
ECB's Nagel: World economy is in very delicate situation
In an interview with Bloomberg on Tuesday, European Central Bank (ECB) policymaker and Bundesbank President Joachim Nagel noted that the world economy is in a very delicate situation and said that they need to have a better understanding of how to find compromises on tariffs.
ECB
EURUSD
CentralBanks
ECB's Nagel: The Euro area is in stagnation picture this year
ECB's Nagel: The Euro area is in stagnation picture this year
Comments from the ECB policymaker, Joachim Nagel
Forexlive European FX news wrap: The mood remains positive following Trump's comments
Forexlive European FX news wrap: The mood remains positive following Trump's comments
Forex news from the European morning session on Apr 23, 2025
Session wrap
Wrap Europe
Copper price recovers, but the physical market is still well supplied – Commerzbank
Copper price recovers, but the physical market is still well supplied – Commerzbank
The Copper price can make up further ground after the Easter break.
Banks
Metals
Copper
Commodities
AUD/USD surges to near 0.6420 as Trump expects de-escalation in US-China trade war
AUD/USD surges to near 0.6420 as Trump expects de-escalation in US-China trade war
AUD/USD gains sharply to near 0.6420 as the US Dollar gives up intraday gains.
Australia
China
Fed
UnitedStates
AUDUSD
Swiss Gold exports in the first quarter split in two – Commerzbank
Swiss Gold exports in the first quarter split in two – Commerzbank
The data on Gold exports in March published by the Swiss customs authority last Thursday showed a split picture, as in the two previous months, Commerzbank's commodity analyst Carsten Fritsch notes.
XAUUSD
Metals
Gold
Banks
Decline in Silver demand leads to lower supply deficit on the Silver market – Commerzbank
Decline in Silver demand leads to lower supply deficit on the Silver market – Commerzbank
The fact that Silver cannot keep pace with gold is explained by the importance of industrial demand, which is developing less dynamically than previously expected, Commerzbank's commodity analyst Carsten Fritsch notes.
Silver
Metals
Banks
XAGUSD
US Dollar flat on Trump’s softening towards China, Powell
US Dollar flat on Trump’s softening towards China, Powell
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading flat to marginally higher around 99.20 at the time of writing on Wednesday after a pop in early Asian trading towards the 100.00 big figure got completely erased.
TradeWar
UnitedStates
SEO
Macroeconomics
DollarIndex
US MBA mortgage applications w.e. 18 April -12.7% vs -8.5% prior
US MBA mortgage applications w.e. 18 April -12.7% vs -8.5% prior
Latest data from the Mortgage Bankers Association for the week ending 18 April 2025
Silver price continues to lag behind Gold – Commerzbank
Silver price continues to lag behind Gold – Commerzbank
While the Gold price is rushing from record to record and the rise recently even gained momentum, the Silver price has not even fully made up for the price drop at the beginning of April, Commerzbank's commodity analyst Carsten Fritsch notes.
Silver
Metals
Gold
Commodities
Banks
Compensatory cuts are likely to limit OPEC+ production expansion – Commerzbank
Compensatory cuts are likely to limit OPEC+ production expansion – Commerzbank
Last week, OPEC published a new compensation plan to offset the previous overproduction, Commerzbank's commodity analyst Carsten Fritsch notes.
Oil
OPEC
Energy
Banks