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Apr 21 - 08:55 PM

EUR/USD - Opens Firmer As Rate Cut Expectations Are Dialled Back

By Andrew M Spencer  —  Apr 21 - 07:45 PM
  • Steady after closing up 0.15% supported by the softer USD and +0.65% EUR/GBP

  • EUR/GBP demand was fuelled by weak UK retail sales fuelling rate cut hopes

  • Middle East tensions should not delay ECB's June rate cut - Villeroy

  • ECBWATCH prices 71pts of 2024 cuts, down from 83pts the prior week

  • As the Fed pushes back against cuts, markets price fewer cuts in Europe

  • Charts; 10 and 21-day moving averages fall with 21-day Bollinger bands

  • Daily momentum studies show mixed signals - daily charts remain net bearish

  • 1.0594, 0.786 of the Oct-Dec rise remains the initial support

  • 1.0700 1.372BLN are the close significant strikes for April 22nd

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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