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Dec 10 - 03:55 PM

EUR/USD - Bulls Progress But Traction Is Limited

By Christopher Romano  —  Dec 10 - 01:40 PM
  • Pair drops in Europe am, NY opens near 1.2090, slide hits 1.2081 (EBS)

  • Rally ensues after ECB policy moves basically meet investor expectations

  • Lagarde presser, downward GDP & inflation projections don't phase bulls

  • Lagarde mention that FX rate will be watched lead to only a small dip

  • EUR/USD breaks top of bull flag, trades to 1.21585 on EBS

  • Lift aided by equity bounce, commodity gains & EUR/JPY lift to 126.735 (EBS)

  • US$ bid emerges & UK PM Johnson said no deal Brexit is a strong possibility

  • EUR/USD dips near 1.2110 but bounces and sits near 1.2125 late in the day

  • ECB fails to stop EUR/USD rise, more gains likely nL1N2IQ1N1

  • For more click on FXBUZ








eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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