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Oct 04 - 03:55 PM

EUR/USD - Spreads Widen, Fed Rate Cut Pace May Slow On Jobs Data

By Christopher Romano  —  Oct 04 - 01:40 PM
  • NY opened near 1.1025 after 1.10395 traded overnight, drop then extended

  • Big upside beat to jobs data spiked up yields US2YT=RR & the US$

  • DE-US 2-yr spreads US2DE2=RR widened sharply; USD/CNH rallied to 7.1036

  • Gold XAU= traded lower which reinforced the bid for the dollar

  • EUR/USD neared 1.0960, bounced slightly then hit 1.09515 on EBS

  • The pair traded down -0.60% late in the day and techs leaned bearish

  • Pair held below the 55-DMA & daily cloud top, daily & monthly RSIs falling

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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