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USD
EUR/USD
The Euro weakened slightly to $1.1735 as broader risk sentiment stayed fragile amid ongoing geopolitical uncertainty and tariff-related growth concerns across Europe.
GBP/USD
The Pound Sterling fell to $1.3570 versus the greenback as markets trimmed expectations for aggressive Bank of England tightening after softer UK economic signals.
USD/JPY
The South African rand jumped to $16.4178 with softer global risk sentiment pressured emerging-market currencies, while lower commodity prices also weighed on South Africa’s terms of trade.
USD/MUR
The Dollar–Rupee climbed to 47.51 (selling) this morning.
11:00 AM EUR ECB's President Lagarde speech
1:45 PM USD Fed's Cook speech
4:00 PM EUR ECB's Cipollone speech
4:30 PM CAD Average Hourly Wages (YoY) (Apr)
4:30 PM CAD Net Change in Employment (Apr)
4:30 PM USD Nonfarm Payrolls (Apr)
6:00 PM USD Michigan Consumer Sentiment Index (May) Prel
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.
