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Jun 08 - 04:55 PM

EUR/USD - Overnight Momentum Fades As Risk Sours In NY

By Christopher Romano  —  Jun 08 - 02:10 PM
  • EUR/USD rallied in Europe on GDP data nL1N2XV10Z, NY opened near 1.0720

  • EquityESv1 bounce, rateFEIZ3 gains, EUR/JPY lift to 144.25 aid lift

  • EUR/USD rallied above the 10- & 55-DMAs,pierced the daily cloud base

  • Pair hit 1.0748 on EBS but then dropped as risk sentiment soured

  • Sharp fall in stocks, EUR/JPY fall toward 143.50 weigh on EUR/USD

  • EUR/USD fell below the 10-DMA, neared flat late in the session

  • Daily doji forms, implies indecision; consolidation of recent gains persists

  • Risks from China May trade data, ECB meeting & US May CPI still loom

  • For more click on FXBUZ

eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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