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May 31 - 03:55 AM

EUR/USD - At A Cross Roads; FX Traders Sense A Wind Change

By Peter Stoneham  —  May 31 - 02:12 AM
  • Rebound into Friday close gave a hammer candle (bullish): EBS pricing

  • With U.S. and London out today EUR might struggle for bull confirmation

  • As cracks open up on the ECB and Fed dovish facade mkt senses change

  • Some CB rhetoric is turning away from the accommodative stance

  • ECB won't move before Fed: Villeroy said as much but Schnabel less dovish

  • Officials will continue to play the transitory inflation card

  • EUR/USD will therefore trade off of economic data for now

  • For today tight range trade above 1.2150 and likely capped at 1.2220-30






For more click on FXBUZ


EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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