Platinum price surrendered to the stability of the barrier at $2430.00, pushing it to activate the attempts of gathering gains by testing $2245.00 support, to settle above it.
The suggested scenario depends on the strength of the current support, as its stability makes us expect begin forming bullish waves, to attempt to reach $2345.00, to repeat the pressure on the mentioned barrier, while its decline below the support and providing negative close will force it to suffer several losses by reaching $2180.00 and $2130.00.
The expected trading range for today is between $2245.00 and $2345.00
EUR/USD extends its slide after closing deep in negative territory on Monday and closes in on 1.1600. The risk-averse market atmosphere could make it difficult for the pair to stage a rebound, despite technically oversold conditions.
Euro Price This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the weakest against the Australian Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
1.23%
0.82%
0.99%
0.36%
-0.15%
0.84%
2.22%
EUR
-1.23%
-0.41%
-0.27%
-0.86%
-1.36%
-0.38%
0.97%
GBP
-0.82%
0.41%
-0.06%
-0.45%
-0.96%
0.03%
1.38%
JPY
-0.99%
0.27%
0.06%
-0.57%
-1.09%
-0.04%
1.25%
CAD
-0.36%
0.86%
0.45%
0.57%
-0.55%
0.54%
1.85%
AUD
0.15%
1.36%
0.96%
1.09%
0.55%
0.99%
2.37%
NZD
-0.84%
0.38%
-0.03%
0.04%
-0.54%
-0.99%
1.37%
CHF
-2.22%
-0.97%
-1.38%
-1.25%
-1.85%
-2.37%
-1.37%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
The US Dollar (USD) capitalized on safe-haven flows at the beginning of the week and caused EUR/USD to push lower as markets reacted to the US and Israel carrying out a joint military operation against Iran. Reflecting the broad-based USD strength, the USD Index gained nearly 1% on a daily basis on Monday.
Early Tuesday, US stock index futures are down more than 1% on the day and the Euro Stoxx 50 Index loses about 2.3%. In turn, the USD Index preserves its bullish momentum and trades at its highest level since late January above 99.00.
US military officials said early Tuesday that they have destroyed command posts of Iran’s Revolutionary Guards, as well as Iranian air defense and missile launch sites since the start of the joint offensive on Saturday. Meanwhile, Iran fired missiles and drones at several Persian Gulf countries, including a drone strike that hit the US Embassy in Saudi Arabia’s capital, Riyadh. US President Donald Trump said that he doesn’t think “boots on the ground” will be necessary and added that the US will soon respond to the attack on the US embassy in Riyadh soon.
The European economic calendar will feature the preliminary Harmonized Index of Consumer Prices (HICP) data for February, which is unlikely to trigger a market reaction.
Later in the day, policymakers from the European Central Bank (ECB) and the Federal Reserve (Fed) will be delivering speeches.
ECB chief economist Philip Lane said early Tuesday that a prolonged conflict in the Middle East could lead to a substantial spike in inflation and also cause a sharp drop in output in the Euro Area. Additionally, ECB policymaker Martin Kocher told the Wall Street Journal on Monday that the ECB should be prepared to move interest rates quickly in either direction. In case ECB officials voice concerns over upside risks to inflation, the Euro could find a foothold in the near term and help EUR/USD limit its losses.
In the meantime, markets seem to be assessing the uncertainty created by the Middle East crisis as a factor that could cause the Fed to delay policy-easing. According to the CME FedWatch Tool, the probability of a Fed rate cut in June declined to about 36% from nearly 46% on Friday. Hence, the USD could continue to outperform its rivals if Fed policymakers hint that they would prefer to remain patient until they have a better understanding of the potential impact of the US-Iran war on inflation and the broad economic outlook.
EUR/USD Technical Analysis:
In the 4-hour chart, EUR/USD trades at 1.1635. The near-term bias is bearish as the pair holds below the 20-, 50- and 100-period Simple Moving Averages (SMAs), while the 50- and 100-period SMAs cap price beneath the gently rising 200-period SMA near 1.1805, signalling persistent downside pressure within a broader consolidation. The Relative Strength Index (RSI) sits near 26, in oversold territory, which reflects strong selling momentum but also warns that further declines would stretch the move. Price has slipped beneath the 61.8% Fibonacci retracement at 1.1757, measured from the 1.1590 low to the 1.2027 high, reinforcing the corrective slide from the upper range.
Immediate resistance now appears at the 61.8% retracement at 1.1757, followed by the 50% retracement at 1.1809, where the cluster of SMAs around 1.1780–1.1820 forms a broader supply zone that would need to break to ease the bearish tone. On the downside, support is seen at the recent Fibonacci anchor low at 1.1590, ahead of the horizontal levels at 1.1540 and 1.1500, which guard deeper losses. A sustained break below 1.1590 would open the path toward 1.1540, while recovery attempts below 1.1757 are expected to face selling interest.
(The technical analysis of this story was written with the help of an AI tool.)
Euro FAQs
The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall.
Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
The GBPJPY pair activated the bullish attempts, to achieve the suggested target by reaching 211.25, facing a key barrier which forces it to form new negative rebound, to settle near the initial support at 210.65 level.
Note that the continuation of the main indicators contradiction by the price stability below 211.25 might push it to form new bearish waves, attempting to reach 209.85 to press on 209.15 support, while confirming the positivity requires forming strong bullish rally, to settle above 211.25, to ease the mission of targeting the next positive level at 212.05.
The expected trading range for today is between 209.80 and 211.00
Coffee price kept its stability above 275.80 support until this moment, attempting to find a chance to reduce the losses, farming sideways waves by its fluctuation near 280.00 level.
The price needs new bullish momentum, reinforcing the chances of beginning recovering the losses, to expect its rally towards 293.50 directly, to press on the barrier at 301.00, while the decline below the current support will confirm the continuation of the negativity in the upcoming trading, expecting the next negative target at 264.80 level.
The expected trading range for today is between 275.00 and 293.50
The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results.
Inflation fears and rising gas prices may be the most widely felt impacts of the oil price shock that the Iran conflict has triggered. But for the Alberta government, there could be a significant financial upside to this sudden global supply crunch.
The province, which is currently staring down a $4.1-billion deficit for the current fiscal year and just forecast a $9.4-billion shortfall for 2026-2027, is highly sensitive to changes in the price of oil because of how reliant its revenues are on royalties from Alberta oil production.
The budgeting year that ends on March 31 was based on the North American benchmark West Texas Intermediate (WTI) crude averaging $61.50 US per barrel, while the coming fiscal year that begins in April forecasts $60.50.
The sudden stoppage of all oil tanker traffic through the Strait of Hormuz, through which one-fifth of the world’s crude travels, has sent prices skyward — WTI jumped by around eight per cent Monday to $71.35 by the trading day’s end.
Because the next fiscal year hasn’t begun, this sudden price hike might not have any bearing on the forward-looking budget but could brighten the Alberta balance sheet of the fiscal year now concluding.
“I suspect that rather than a $4.1 billion deficit that we were projecting in the budget, it might be somewhat less than that,” Alberta Premier Danielle Smith at a health care announcement in Lethbridge.
How much less? That will depend on how long prices stay high.
If the benchmark price climbs by $1 US, that roughly means an extra $680 million for provincial coffers.
But that’s over the course of a whole year — the impacts of these short-term price spikes might be better expressed in days.
That one-dollar rise works out to about $2 million per day for the Alberta government’s income, according to calculations by University of Calgary economist Trevor Tombe. Which means that a price $10 US higher than expected translates into an additional $20 million every day this jolt lasts.
“So if this lasts for the entire month of March, for example, that’s about $600 million [in reduced Alberta deficit] just from these four weeks alone,” Tombe told CBC News.
Should security risks for tankers in the Mideast, along with tighter global supply and high prices, persist into April, it could similarly erode the much larger deficit that Alberta just tabled for 2026-27.
But Alberta’s newly forecast budget deficit is so deep that oil lingering at current prices would still result in a $2 billion to $3 billion shortfall next year, Tombe said.
Alberta Finance Minister Nate Horner speaks about his proposed 2026 provincial budget on Feb. 26, two days before the attack on Iran by U.S. and Israel led to a spike in oil prices. (Jason Franson/The Canadian Press)
Finance Minister Nate Horner has said Alberta needs $74 US-per-barrel prices to balance its budget in the coming year.
The conflict-related price jump isn’t making him reconsider his deficit budget and its oil-price forecast, which was based on advice from multiple private-sector analysts.
“We want to have conservative forecasts,” the minister said Monday. “We do want the potential for upside for the province. We don’t want to over-estimate that to make budget day go easier for myself and the government.”
Alberta budgets have often wound up in surplus because the spring budget under-estimated how high oil prices would be that year — and the inverse has previously happened with per-barrel price forecasts that wound up being too rosy.
Long-term disruption to ship traffic in the Strait of Hormuz could send prices even higher, and so could damage to oil infrastructure in other Gulf countries. Meanwhile, a shorter conflict in which disruptions are easily reversible could mean the current price spike won’t last.
“As the risk dissipates it will quickly become a supply-demand calculation again, and that’s what led us to our forecast in the first place,” Horner said.
The GBP/USD pair claws back its significant early losses during the European trading session on Monday, but is still 0.6% down to near 1.3400. The pair is still under pressure as the Pound Sterling (GBP) underperforms due to risk-off market sentiment amid the war between the United States (US), Israel, and Iran.
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the US Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.70%
0.57%
0.53%
0.12%
0.47%
0.67%
0.63%
EUR
-0.70%
-0.13%
-0.18%
-0.57%
-0.22%
-0.03%
-0.07%
GBP
-0.57%
0.13%
-0.04%
-0.45%
-0.10%
0.09%
0.06%
JPY
-0.53%
0.18%
0.04%
-0.39%
-0.05%
0.15%
0.12%
CAD
-0.12%
0.57%
0.45%
0.39%
0.35%
0.54%
0.51%
AUD
-0.47%
0.22%
0.10%
0.05%
-0.35%
0.20%
0.16%
NZD
-0.67%
0.03%
-0.09%
-0.15%
-0.54%
-0.20%
-0.04%
CHF
-0.63%
0.07%
-0.06%
-0.12%
-0.51%
-0.16%
0.04%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
S&P 500 futures plunged almost 1% ahead of the US markets’ opening, showing depressed appetite for risky assets. At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.6% higher to near 98.20.
On Saturday, the US and Israel launched a wave of strikes against Iran, which resulted in the execution of Tehran’s 48 top leaders, including Supreme Leader Ayatollah Ali Khamenei, according to Fox News.
Meanwhile, the war is expected to escalate further as Iran’s security chief Ali Larijani has refused to come to the table for negotiations with the US on stopping the massacre.
Going forward, investors will focus on the US ISM Manufacturing PMI data for February, which will be published at 15:00 GMT. The Manufacturing PMI is expected to come in lower at 51.8 from 52.6 in January.
GBP/USD technical analysis
GBP/USD trades sharply lower at around 1.3404 as of writing. The near-term bias turns bearish as spot extends below the 20-day Exponential Moving Average (EMA), which now caps recovery attempts around 1.35. The sequence of lower lows from the mid-1.36 area confirms an immediate downtrend.
The 14-day Relative Strength Index (RSI) slipping below 40.00 after consolidating the 40.00-60.00 range for almost a month signals building downside pressure.
Initial resistance sits at the 20-day EMA near 1.3530, with a sustained break above that area needed to ease bearish pressure and reopen the 1.3650 region. On the downside, immediate support aligns with the intraday low of 1.3315. A daily close below that level would strengthen the current downswing and open the door towards the December 3 low of 1.3203.
(The technical analysis of this story was written with the help of an AI tool.)
Economic Indicator
ISM Manufacturing PMI
The Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI), released on a monthly basis, is a leading indicator gauging business activity in the US manufacturing sector. The indicator is obtained from a survey of manufacturing supply executives based on information they have collected within their respective organizations. Survey responses reflect the change, if any, in the current month compared to the previous month. A reading above 50 indicates that the manufacturing economy is generally expanding, a bullish sign for the US Dollar (USD). A reading below 50 signals that factory activity is generally declining, which is seen as bearish for USD.
Copper prices failed to provide positive close above $5.9700 level, which forces it to delay the bullish rally and provide sideways trading, fluctuating near $5.9400 level.
The sideways trading might continue in the near period, until it is activated the main indicators’ positivity, to reinforce the chances of resuming the rise and reaching positive stations that is located at $6.1200 and $6.2400 level, while reaching below $5.8100 will force it to suffer some losses before reaching the suggested positive stations.
The expected trading range for today is between $5.8500 and $6.1200
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