Markets wait on ECB and Fed speeches
EUR/USD is trading pressured below 1.1000, as the US dollar tracks the ongoing rally in the Treasury yields on the Fed’s aggressive tightening outlook. The Russia-Ukraine stand-off also underpins the safe-haven dollar. ECB and Fed speeches awaited.
GBP/USD remains pressured around one-week-old ascending support line. Bearish MACD signals, failures to cross 1.3190-3200 resistance area favour sellers. 50-SMA adds to the downside filters, bulls need validation from 1.3275.
GBP/EUR has been outperforming in Europe. As the UK has room to deliver fiscal support measures, the pound is set to remain bid against the euro, driving the EUR/GBP pair to the 1.2030 zone in the next few days.