By Christopher Romano — May 21 - 01:40 PM
NY opened near 1.0870 after 1.08745 traded on EBS overnight, slide extended
Pair fell despite US yield US2YT=RR slip, equity ESv1 & goldXAU= gains
1.0843 traded, bounce above 1.0860 ensued but pair slid again
US$ buys weighed; USD/CNH traded above 7.2480 while stocks, gold turned down
EUR/USD sat near 1.0850, traded down -0.05% late in the session
Pair still consolidating gains off the May 9 low which is a bull signal
Rising monthly RSI, hold above many daily MAs reinforce bullish signals
Minutes of Fed's April 30-May 1 meeting are a key risk Wednesday
Fed's Goolsbee speaks Wednesday, may impact risk sentiment
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary