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Jan 04 - 03:55 PM

EUR/USD - Overnight Rally Stalls But Bulls Hold Sway Ahead Of US Jobs

By Christopher Romano  —  Jan 04 - 01:35 PM
  • EUR/USD rallied to 1.0972 on EBS overnight, NY opened near 1.0945

  • Pair then traded a tight 1.0933-1.0966 range, was up +0.25% late

  • US yield US2YT=, US$ gains after US jobs data had limited impact

  • EZ Dec. HCOB PMIs, German Dec HICP/CPI helped to buoy EUR/USD

  • Techs are mixed; rally off Oct low intact but pair is below the 10-DMA

  • Rising daily RSI, falling monthly RSI add to the mixed tech signals

  • US Dec. payroll, ISM non-MFG PMI & their impact on Fed policy are due Friday

  • Upbeat reports may see investors pare back expectations for Fed rate cuts

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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