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Apr 16 - 08:55 PM

EUR/USD - Heavy As Conflicting Rate Expectations Weigh

By Andrew M Spencer  —  Apr 16 - 07:55 PM
  • Steady after closing -0.05%, with the USD +0.1%, as UST yields climbed

  • Fed's Powell rates higher for longer - ECBs Lagarde remains dovish

  • Markets not so sure, 10yr bund up 5bp to 2.486%, 10yr UST +3bp to 4.657%

  • ECB Chair Lagarde speaks tonight as do the Fed's Mester and Bowman

  • Charts - daily momentum studies fall, 21-day Bollinger bands expand

  • 5, 10, and 21-day moving averages fall - the daily charts remain bearish

  • 1.0647 5-day moving average then 1.0653 European high are first resistance

  • 1.0601 New York and 2024 low then 1.0594, .786 of the Oct-Dec rise support

  • 1.0605/10 895mln and 1.0630/35 1.765BLN close strikes for April 17th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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