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FX Market Awaits Macro Data: EUR/USD and GBP/USD Near Range Boundaries

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FX Market Awaits Macro Data: EUR/USD and GBP/USD Near Range Boundaries

European currencies are trading without a clear direction against the US dollar, remaining in a consolidation phase following the earlier decline driven by USD strength. At the start of the week, both EUR/USD and GBP/USD attempted a recovery, but the upside proved limited, and the pairs are now testing the upper boundaries of their short-term trading ranges.

Market participants are adopting a wait-and-see approach ahead of the release of key macroeconomic data, which could determine the next direction for the dollar and major currency pairs. Geopolitical uncertainty in the Middle East remains an additional factor weighing on sentiment. Reports of ongoing tensions and risks to energy supply disruptions continue to support elevated oil prices, fuelling inflation expectations and prompting investors to reassess the outlook for central bank policy.

Today, the focus is on business activity and inflation data from Europe and the UK, as well as housing market and consumer activity figures from the US. These releases could significantly impact interest rate expectations, prompting traders to refrain from opening large positions ahead of the data.

EUR/USD

At the start of the week, EUR/USD tested key support near 1.1480 before rebounding above 1.1600. Technical analysis suggests a range-bound market: a rejection from the key resistance level at 1.1640 could lead to a renewed test of recent lows in the 1.1420–1.1480 area. Conversely, a firm break above 1.1640 and a move out of the range could open the way for further gains towards 1.1680–1.1710.

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Key events for EUR/USD:

  • Today at 11:00 (GMT+2): Germany business expectations index
  • Today at 13:00 (GMT+2): Bundesbank monthly report
  • Today at 14:30 (GMT+2): US current account balance

GBP/USD

GBP/USD is also trading within a range. Following last week’s Bank of England meeting, the pair strengthened towards 1.3480 but failed to sustain upward momentum, retreating to 1.3250 on Monday. Technical analysis points to the potential for a retest of the recent high; however, in the event of weak UK data, a move lower towards the 1.3350–1.3250 area is equally possible.

Key events for GBP/USD:

  • Today at 09:00 (GMT+2): UK Consumer Price Index (CPI)
  • Today at 11:30 (GMT+2): UK house price index
  • Tomorrow at 11:30 (GMT+2): Speech by Bank of England Financial Policy Committee member Sarah Breeden

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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Crypto World

Pump.fun Tightens Creator Fee Controls in New Update

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Pump.fun Tightens Creator Fee Controls in New Update

Memecoin launchpad Pump.fun introduced a new restriction on creator fee settings, limiting token deployers to a single post-launch change in how fees are distributed on the platform. 

In a post on X, Pump.fun co-founder Alon Cohen said the update aims to reduce “griefing” — where creators alter fee recipients after a token gains traction — and other forms of manipulation tied to fee redirection, where token creators can alter who receives fees after a coin gains traction. 

Under the change, each token will have one opportunity to redirect creator fees to a different wallet, after which the configuration becomes permanently locked. 

Pump.fun’s latest update follows a broader overhaul announced in January, when the platform acknowledged that its creator-fee model had skewed incentives by disproportionately rewarding token deployers over traders.

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Source: Alon Cohen

Pump.fun’s broader attempts to shift incentives to traders

On Jan. 10, the platform introduced changes like multi-wallet distribution and post-launch controls, aiming to improve transparency and better align rewards with trading activity. 

On Feb. 17, Pump.fun introduced “Cashback Coins,” requiring creators to choose at launch whether fees go to themselves or are redirected to traders, with that high-level model locked in once selected. 

The change aimed to rebalance the distribution of rewards between token deployers and traders. However, while the overall fee model was fixed at launch, creators or coin admins could still adjust the specific wallets receiving those fees and how they were distributed after a token went live.

Related: ‘Hawk Tuah’ girl Haliey Welch says memecoin implosion ‘traumatized’ her

This meant that even if the model didn’t change, the underlying recipients could, creating potential trust issues for traders. The latest update narrows that flexibility by allowing only a single post-launch change to fee recipients, after which the configuration is permanently locked.

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Early community reactions suggest the change may do little to address broader trading dynamics on the platform. X user gake said the change might not help much, while another user, tom, described it as a “drop in the bucket” that shows the team is at least acknowledging the issue.

Pump.fun activity drops as fees and volume fall year over year

Pump.fun’s shift in its incentive structure comes as its fees have declined from their peak. DefiLlama data shows that in January 2026, the platform recorded $31.8 million in fees, down about 75% from $148 million in January 2025, its best-performing month to date.

In February 2026, the platform recorded $25 million in revenue, down 66% from nearly $75 million in February 2025.

Pump.fun’s monthly revenue chart. Source: DefiLlama

The platform’s trading volume has followed a similar pattern. According to DefiLlama, Pump.fun recorded monthly volume of over $11.6 billion in January 2025, which fell to about $2.1 billion in January 2026, a decline of roughly 81%.

In February 2026, monthly volume totaled about $1.91 billion, down 68% from $6.1 billion in February 2025.

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