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Sep 16 - 08:55 AM

EUR/USD - Investors' Bets For The Fed's Cut Drives Gains

By Christopher Romano  —  Sep 16 - 07:30 AM
  • EUR/USD dipped down to 1.10768 on EBS in Asia, buyers emerged however

  • US yields US2YT=RR, US$ fell on higher probability Fed cuts 50bps IRPR

  • DE-US spreads US2DE2=RR traded their tightest since early May 2023

  • USD/CNH drop to 7.0882, gold XAU= gains helped fuel broad based US$ sales

  • EUR/USD rallied above the 21-DMA, hit a 6-session high of 1.11293

  • NY opened near 1.1120, pair traded up +0.40% in early NY

  • Techs lean bullish; RSI rising, top of bull flag on daily chart pierced

  • NY Fed's September manufacturing index is a data risk in NY's morning

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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