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May 11 - 03:55 PM

EUR/USD - US CPI Fails To Inspire Bulls Or Bears

By Christopher Romano  —  May 11 - 01:35 PM
  • EUR/USD rallied above the 10-DMA, hit 1.0576 on EBS in Europe

  • NY opened near 1.0545, slide extended after US CPI nL2N2X315F

  • US ratesEDM3US2YT=RR,US$ rallied on above estimate core CPI

  • EUR/USD hit 1.05025 on EBS but rallied up to 1.0577 on upbeat risk

  • US rates gains eroded & stocks ESv1 rallied to help underpin EUR/USD

  • Risk soured however, EUR/JPY fell to 136.495 on EBS, EUR/USD followed

  • Pair fell below the 10-DMA and neared 1.0525 late in the session

  • EUR/USD remains in its 1.0470-1.0650 consolidation range for now

  • EUR/USD upside risks remain after US CPI nL2N2X31NZ

  • For more click on FXBUZ

eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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