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Jun 21 - 05:55 PM

EUR/USD - Diverging Data Helps Shorts Hold The Advantage

By Christopher Romano  —  Jun 21 - 01:35 PM
  • EZ June HCOB PMI was below estimates, US S&P Global PMI was above estimates

  • Diverging data helped EUR/USD trade down on the session & the week

  • German-US spreads US2DE2=RR widened as US PMI rallied yields US10YT=RR

  • US$ gains weighed on EUR/USD as well; USD/CNH rallied toward 7.2920

  • Commodity XAU=, HGv1 losses helped drive investors into the US$

  • EUR/USD traded 1.0678-1.0697 in NY, was down -0.10% late in the session

  • Techs are bearish; RSIs are falling & EUR/USD traded below the 10-DMA

  • US weekly claims & May PCE will be key data risks for next week

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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