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Sep 11 - 08:55 AM

EUR/USD - Only Mild Enthusiasm Expressed By Bulls On BOJ, PBOC Influence

By Christopher Romano  —  Sep 11 - 08:30 AM
  • EUR/USD rallied 1.0708-1.07415 on EBS overnight, NY opened near 1.0730

  • Comments from BOJ member & PBOC fix, China loan data rally yen & yuan

  • USD/JPY fell to 145.91 on EBS, USD/CNH fell to 7.2921 on D3

  • EUR/USD bulls weren't able to add to gains as EUR/JPY fell to 156.58

  • EUR/USD up only +0.20% early NY despite equityESv1, commodityHGv1 gains

  • Pair holds below short-term resistance ~1.0750 ahead of data, event risks

  • US August CPI is due Wednesday; ECB meeting due Thursday, hold expected

  • Techs lean bearish; monthly RSI falling & pair consolidating recent drop

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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