The EUR/USD exchange rate remained in a narrow range after a series of important events and macro data. It was trading at 1.1780, down from the year-to-date high of 1.2095.
Major markets outlook: USD pairs, S&P 500, Gold & Bitcoin. Key technical zones, breakouts and downside risks for the week ahead.
The US Dollar (USD) reversed its previous week’s decline, managing to stage a meaningful rebound and retesting the area just above the 98.00 barrier when tracked by the US Dollar Index (DXY).
The US Dollar (USD) stands victorious at the end of another week, with the EUR/USD pair trading near a four-week low of 1.1742, while the USD retains its strength despite some discouraging American data released at the end of the week.
The Pound Sterling (GBP) crashed to its lowest level in a month against the US Dollar (USD), as critical support levels were breached in a data-packed week.
Gold (XAU/USD) struggled to make a decisive move in either direction this week as it quickly recovered above $5,000 after posting losses on Monday and Tuesday.