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Mar 31 - 04:55 PM

EUR/USD - Bulls Get Brief Reprieve From Month-End Book-Squaring

By Randolph Donney  —  Mar 31 - 02:55 PM

  • EUR/USD recovered from its 1.1704 EBS low in month-end consolidation

  • Big March and Q1 EUR/USD losses, oversold dailies offer support

  • But soft EZ CPI, solid ADP and Fed-ECB policies favor bears nL1N2LT1LL

  • ECB PEPP buying to weigh in Bund-Treasury yield spreads

  • Market a little gun-shy ahead of Friday's NFP and holiday

  • But Nov and Sep lows by 1.1600 remain attractive targets

  • Support by 1.17, options not pricing in quick break, though

  • Comes as France extends covid lockdowns amid crisis nL8N2LT1SZ

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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