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Oct 24 - 03:55 PM

EUR/USD - Shorts Squeezed With Help From Softer US Yields, Dollar

By Christopher Romano  —  Oct 24 - 01:35 PM
  • NY opened near 1.0800 after 1.07702 traded on EBS in Europe's morning

  • Pair dipped down to 1.07885 after US weekly, continuing claims reports

  • Buyers emerged however as US yields US2YT=RR, US$ traded heavily

  • Equity ESv1, gold XAU= rallies helped to weigh down the US$

  • Yields, US$ remained soft despite above estimate Oct. S&P Global PMIs

  • EUR/USD neared the 5-DMA, hit 1.0817, traded up +0.32% late in the day

  • Daily RSI turned up from oversold territory, may mean bounce can extend

  • Falling monthly RSI, hold below 200-DMA suggest bounce may be limited

  • Oct. German Ifo, Sept. US durable goods reports are data risks Friday

  • Boston Fed's Collins speaks Friday, remarks may impact risk sentiment

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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