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Aug 09 - 01:55 PM

EUR/USD - Bears Step Aside Ahead Of US CPI Risks

By Christopher Romano  —  Aug 09 - 01:25 PM
  • NY opened near 1.0975 after pair rallied overnight, pair slid early

  • 1.0963 hit on EBS on risk-off; USD/CNH rallied off low, stocks ESv1 fell

  • US$ buying abated however & UST yields softened a bit, EUR/USD lifted

  • Rally extended after US$ slid following the UST 10-yr auction results

  • EUR/USD rallied above the 10-DMA & trend line off July's high, 1.0990 hit

  • Pair traded up +0.29% late in the session as investors await key US data

  • July CPI due Thursday & July PPI due Friday, may impact overall risk

  • Downside surprises may sink US$, US yields as Fed may lean less hawkish

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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