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TDUX
Oct 02 - 04:55 PM
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EUR/USD - Payroll Induced Gains Fade A Bit

By Christopher Romano  —  Oct 02 - 01:50 PM

(Corrects typo in line 2)

• NY opened near 1.1235, pair rallied after the September jobs report

• The softer data sent the USD, US yields , USD/CNH down

• Riskier assets like gold, silver, equities rallied to reinforce the USD selling

• EUR/USD hit 1.1285 but then a good portion of the data-induced gains faded

• USD, yields turned up, gold & silver turned down & oil moved upward

• EUR/USD sat near 1.1250 late, it traded up only +0.10% in NY's afternoon

• Daily RSI turned up but monthly RSI indicates longer-term downward momentum

• Widening Bolli bands, pair's hold below 10- & 21-DMAs are bearish signals
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters
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