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Dec 01 - 08:55 PM

EUR/USD - 1.0615 Beckons, As EUR/USD Yield Spreads Narrow

By Andrew M Spencer  —  Dec 01 - 07:25 PM

  • +0.05% early after closing up 1.1% - U.S. dollar weaker across the board

  • Yield spreads euro positive - 10yr bunds -14bp and 10yr UST -18bp this week

  • EU edges towards a USD 60 price cap on Russian seaborne oil nL8N32R4BW

  • Will be interesting to see how the mechanics of the cap work in reality

  • Charts; momentum studies, 5, 10 & 21 day moving averages edge higher

  • 21 day Bollinger bands contract - bounce leaves positive signals

  • Close above 1.0511 50% 2022 fall targets 1.0615, late June range high

  • 1.0475 709 mln and 1.0600 579 mln are December 1st significant close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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