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Thomson Reuters
Feb 07 - 05:00 AM
EUR/USD - January's Low Exposed As More Data Weighs EUR/USD Down
First appeared on eFXplus on Feb 07 - 02:40 AM
  • Like orders yesterday German industrial output substantially undershot f/c
  • Output falls 0.4% in December vs a 0.7% f/c. Nov revised up -1.3% from -1.9%
  • EUR/USD drops to 1.1354 slightly below daily cloud base @ 1.1358
  • Close below daily cloud will add to bearish pressure target 2019 low 1.1289
  • While a further slide is likely a break from 1.12-16 range is not
  • Little change in underlying rates, risks balanced between US/EZ slowing

EURUSD daily chart Click here

US/bund spreads and EUR forwards Click here

Source:
Thomson Reuters IFR Markets

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