
EUR/USD at eight-week high: What happens next
EUR/USD at eight-week high: What happens next
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EUR/USD at eight-week high: What happens next

EUR/USD begins the week around 1.1588, reaching its highest level in eight weeks. The euro has been supported by dollar weakness following fresh US economic data, which revived doubts about the stability of the US economy and reduced expectations of imminent Federal Reserve tightening.

EUR/USD Price Forecast: Conquers 1.1600 as bulls retain control above 100-SMA, 50% Fibo.

GBP/USD could extend its three-month high if UK jobs and inflation data reinforce Bank of England rate hike expectations, while softer Fed bets keep the Dollar under pressure. The Pound US Dollar (GBP/USD) exchange rate appreciated last week amid a dovish repricing of Federal Reserve interest rate hike bets.

The Pound-Euro rate could retest recent highs if UK inflation strengthens BoE rate expectations, while softer German sentiment may keep the Euro on the defensive. The Pound Euro (GBP/EUR) exchange rate rose to a 19-day high last week, but trimmed its gains towards the end of trade.

DXY comes under pressure as Fed hike expectations fade, while EUR/USD and GBP/USD strengthen on narrowing policy divergence and domestic data.

British Pound: Uptrend intact toward 1.3600 cap against US Dollar – UOB

Euro: Upside bias targets 1.1590 against US Dollar – UOB

Silver Price Forecasts: XAG/USD approaches $66.00 favoured by a softer US Dollar

Gold maintains recovery as weaker US data supports gains

British Pound: Data mix limits sustained gains against US Dollar – BBH

Gold continues to trade close to multi-month highs following its recent advance, which was supported by the latest US inflation data. July's CPI broadly matched market expectations, reducing the likelihood of a Federal Reserve rate hike in September.

Philippines Gold price today: Gold rises, according to FXStreet data

Saudi Arabia Gold price today: Gold rises, according to FXStreet data

USD/JPY Price Forecast: Struggles near 159.00; seems vulnerable below 50% Fibo.