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May 11 - 01:55 AM

EUR/USD - Quietly Consolidates Below 1.0550 Ahead Of US CPI

By John Noonan  —  May 10 - 11:35 PM
  • EUR/USD opened -0.27% after a choppy US session nL2N2X22BS

  • Asia was slightly risk-on with E-minis rising 0.35% and AXJ index +0.65%

  • EUR/USD edged higher and was 1.0535/40 heading into the afternoon

  • Market was side-lined ahead of key US CPI data later today

  • A hotter inflation reading will likely underpin USD gains

  • A weaker than expected US CPI should result in lower uS yields and USD

  • EUR/USD support has formed betweek 1.0465/95 were bids are eyed

  • Sellers are tipped ahead of 1.0600 with resistance at the 21-day MA @ 1.0662

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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