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EUR/USD flatlines near 1.1600 as focus shifts to US CPI

EUR/USD holds steady around 1.1600 in the European session on Friday. Traders continue to assess a hawkish hike from the European Central Bank. However, markets stay cautious ahead of the key US Consumer Price Index inflation data, which could provide more clues on the Fed's interest rate path.

https://www.fxstreet.com/news/us-core-cpi-data-set-to-ease-in-august-as-markets-reprice-fed-september-rate-decision-202609110830

Forex Today: US Dollar consolidates gains as focus shifts to cricital inflation report

GBP/USD eases toward 1.3500 ahead of US CPI data

GBP/USD reverses upbeat UK GDP-led gains and trades modestly flat near 1.3500 in the European session on Friday. The UK monthly GDP beat estimates with 0.4% in July, while Industrial and Manufacturing Production also exceeded expectations. But buyers refrain from placing fresh directional bets ahead of the critical US CPI inflation data.

Gold moves away from one-week low, climbs above $4,450 as USD edges lower ahead of CPI

Gold builds on its modest intraday recovery from the $4,300 neighborhood, or a one-and-a-half-week low, touched earlier this Friday, and climbs above $4,350 heading into the European session. The upside potential, however, seems limited as traders opt to wait for the release of US consumer inflation figures before placing directional bets.

Cardano approaches critical support as correction risks grow

Cardano (ADA) recovers slightly, trading at $0.206 at the time of writing on Friday, inches above the critical support zone after losing more than 6% so far this week. Weakening derivatives data and fading bullish momentum suggest a bearish near-term outlook, with a decisive close below the support zone potentially triggering a deeper correction for ADA.

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DEEPER DIVE

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.

Canada's 6.4% unemployment rate: Why Friday's jobs print puts the BoC's slack story on trial

The Bank of Canada held at 2.25% on Wednesday for a seventh straight meeting and rewrote the one paragraph that still argues against a hike. In July, the BoC’s statement called the labour market soft and pinned the unemployment rate inside a 6.5%-7% range it had held since the end of 2024. July's Labour Force Survey then printed 6.4%.

2% wages: Why Canada’s weak jobs data strengthens the BoC’s stance

Canada lost nearly 42K jobs in August against forecasts for a 15K gain, and the unemployment rate stayed at 6.4% anyway. Wages grew 2% on the year, the slowest since November 2017 outside the pandemic years.

CRYPTOCURRENCIES

Cardano Price Forecast: Approaches critical support as correction risks grow

Crypto Overview: Bitcoin slips below $77,000 – Raydium, Falcon Finance hold gains

Bitcoin price trades below $77,000 on Friday, extending its capitulation from the previous week’s high at $82,300. Broader market consensus points to a higher likelihood that the US Federal Reserve could raise interest rates at the September meeting, as inflation concerns rise amid the war with Iran.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC pullback, ETH stalls, XRP weakens

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) remain under pressure on Friday as the broader cryptocurrency market extends its losses over 4%, 2.5% and 5%, respectively, this week.

STOCKS

Google faces deeper correction risk as key $300 support comes into focus

Google (GOOGL) turned sharply lower after we identified a five-wave reversal from the upper channel, which appears to have marked the completion of a larger wave five impulsive sequence. The stock now looks to be entering a broader corrective phase, with the potential for significantly more weakness if key trend line support around the $300 level breaks.

Nasdaq 100 rebound looks strong… or is it just a trap?

The Nasdaq 100 spent the past few sessions recovering strongly from its November lows, rebounding from 24,307 and climbing back into the 25,100–25,150 mid-range zone. While the candles look convincing, the broader picture reveals a different story: the index remains trapped inside a 4H range structure.

WEEKLY FORECAST

EUR/USD: ECB to hike as Trump pushes for lower US rates

The EUR/USD pair posted a modest comeback after falling in the last week of August, finishing the week just above the 1.1600 level. The US Dollar (USD) lost momentum and corrected lower on Monday, but overall it retained its recently regained strength amid persistent Middle East tensions and speculation that the Federal Reserve (Fed) will have to raise the benchmark interest rate in September.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations. The USD/JPY pair drops back closer to the August monthly swing low, touched in reaction to a joint US-Japan currency market intervention in late July.

Gold: Fed uncertainty caps the upside

After declining sharply in the first half of the week, Gold (XAU/USD) managed to erase its losses, reflecting the changes in the market pricing of the Federal Reserve’s (Fed) possible interest rate decision at the next meeting. Investors will scrutinize August inflation data from the United States (US), while the precious metal’s near-term technical outlook suggests that sellers remain hesitant.

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.

US Dollar: The Dollar had every reason to rally. Why didn't it?

Joy can’t last forever, can it? The US Dollar (USD) rapidly faded its prior gains and resumed its marked downside this week, with the US Dollar Index (DXY) coming close to its psychological 100.00 barrier, only to see that dream turn to ashes as market chatter reignited speculation that the Bank of Japan (BoJ) might hike its policy rate at its next meeting.

Week ahead – Dollar at a crossroads as CPI and ECB take centre stage

Dollar direction hinges on US CPI and the ECB decision. Treasury buybacks in focus; could fuel another rally in gold and bitcoin. Yen strength may be challenged by a strong US CPI report.

EDUCATION

How economic uncertainty changes bullion buying patterns across generations

When the economy becomes uncertain, investors react differently depending on their goals and circumstances. But, generally, periods of high inflation, market volatility, or geopolitical tension push investors to look beyond traditional assets for ways to diversify and manage uncertainty.

You’re watching pre-market levels wrong [Video]

If you trade NQ, you’ve probably been told to watch the pre-market high and pre-market low. That part is easy. The harder question is: what are you actually supposed to do when price gets there? Most traders react too quickly, and that’s usually where the trouble starts.

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