By Andrew M Spencer — May 06 - 07:55 PM
Steady after closing up just 0.06% after a low-key inside day on Monday
Yield spreads widened, 10yr bund -4bp 2.476%, 10yr UST -2bp 4.489%
ECB policymakers grow more confident about cutting interest rates
Euro remains resilient - ECB cutting before the Fed is priced in
Charts - 5, 10, and 21-day moving averages conflict, momentum studies rise
21-day Bollinger bands contract - the daily techs show mixed signals
1.0816 upper 21-day Bolli and 1.0835, 0.618% of Mar/Apr fall key resistance
Monday's 1.0750 low the Friday's 1.0724 European low are initial supports
1.0750 2.146BLN and 1.0800 1.387BLN are the close strikes for May 7th
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary