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USD
EUR/USD
The Euro remained unchanged at $1.1753 amid markets increasingly priced in two ECB rate hikes this year, driven by renewed inflation fears linked to Middle East tensions and rising energy prices.
GBP/USD
The Pound Sterling remained relatively resilient at $1.3575 with expectations the Bank of England may stay hawkish.
USD/JPY
The South African Rand continued to depreciate this morning at 16.4924 against the US dollar due to ongoing concerns around South Africa’s fiscal outlook, power supply constraints and coalition government stability.
USD/MUR
The Dollar–Rupee eased to 47.3893 (selling) this morning.
10:00 AM EUR Harmonized Index of Consumer Prices (YoY) (Apr)
11:15 AM USD Fed's Williams speech
1:00 PM EUR ZEW Survey – Economic Sentiment (May)
1:30 PM AUD Budget Release
2:40 PM EUR ECB's Elderson speech
4:15 PMUSD ADP Employment Change 4-week average
4:30 PM USD Consumer Price Index (MoM) (Mar)
4:30 PM USD Consumer Price Index ex Food & Energy (MoM) (Mar)
9:00 PM USD Fed's Goolsbee speech
10:00 PM USD Monthly Budget Statement (Apr)
Technical News – EUR/USD
Double Zig-Zag (WXY) Structure; Larger-Degree Wave X Still Unfolding
Following a peak at $1.2078 on 26 January 2026, EUR/USD has retraced part of its 2025 gains, falling to $1.1411 before recovering toward the $1.17 area.
From an Elliott Wave perspective, the pair appears to have completed wave W and is currently unfolding a larger-degree wave X within a broader double zig-zag corrective structure (WXY). While elements of wave X's internal structure appear relatively mature, the overall corrective phase is still in progress.
The recent recovery toward $1.17 is therefore interpreted as part of this ongoing wave X, rather than the start of a new impulsive sequence. As such, once wave X completes, the pair is expected to transition into wave Y, resuming the broader corrective decline.
In this context, a move lower is anticipated over the coming months. In the near term, an initial downside target is seen at $1.1100, which marks a key support zone defined by the Fibonacci retracement (0.382) and the previous fourth wave of a lesser degree. Further downside extension remains possible as wave Y develops.
On the upside, a sustained break above the $1.20–$1.2078 area would invalidate the current WXY corrective scenario.
