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Jan 26 - 03:55 PM

EUR/USD - US Dollar Bulls Take Back Some Earlier Losses

By Christopher Romano  —  Jan 26 - 01:40 PM
  • NY opened near 1.0875, hit 1.0885 on EBS then dipped below 1.0860

  • Price action relatively muted after December US PCE, consumption data

  • US yield US2YT=RR, US$ lifts after data weighed down EUR/USD

  • Pair fell away from the 10-DMA but remained above the 200-DMA

  • Equity ESv1, gold XAU= drops & USD/CNH gains helped buoy the US$

  • EUR/USD traded up -0.16% late & daily techs flashed warnings for shorts

  • Daily RSI diverged on the 1-1/2-month low, daily doji candle formed

  • US Dec. JOLTS, claims, Jan. ADP, Challenger layoffs, payrolls next week

  • Soft data may see investors increase probability for a March Fed cut

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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