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May 21 - 03:55 PM

EUR/USD - Familiar Turf Trod As Investors Look For A Catalyst

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

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