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May 17 - 03:55 PM

EUR/USD - REFILE-BUZZ-EUR/USD-Dollar Bulls Are Put Back In The Pen

By Christopher Romano  —  May 17 - 01:35 PM

Adds line regarding April leading econ index

  • NY opened just above the 1.0836 session low hit on EBS, choppy action early

  • Pair traded heavy overnight on the back of rising US yields US2YT=RR

  • Dollar bulls couldn't hold gains in NY however as US$ selling emerged

  • Downbeat US April leading econ indexhelped send the dollar downward

  • Rallies on gold XAU=, crypto currencies contributed to US$ weakness

  • Tighter German-US 2-yr yield spreads US2DE2=RR helped EUR/USD lift

  • Pair turned positive, traded 1.08785, was up +0.06% late in the session

  • Daily bulls hammer and rising RSIs may be concerns for EUR/USD shorts

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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