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May 24 - 04:55 PM

EUR/USD - Yield Spreads, Dollar Influences Give Bulls Some Traction

By Christopher Romano  —  May 24 - 12:55 PM
  • NY opened near 1.0840 after 1.08058 traded overnight, rally extended in NY

  • Softer US yields weighed on US$, helped tighten DE-US spreads US2DE2=RR

  • Equity ESv1, gold XAU= gains added additional weight on the US$

  • EUR/USD turned positive, rallied above the 10-DMA hit 1.0858 on EBS

  • Pair's rally stalled near the top of the bull flag in place on daily charts

  • Rising daily, monthly RSIs, move above 10-DMA are bullish technical signals

  • EZ May HICP, US weekly claims & April PCE are key data risks next week

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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