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May 14 - 03:55 PM

EUR/USD - Yields, Commodities, Stocks Give Longs Some Traction

By Christopher Romano  —  May 14 - 02:05 PM
  • Pair dips to 1.21035 (EBS) in Europe am, bounce ensues, NY opens near 1.2115

  • Below estimate US sales nL1N2N02C7 drive US yields US10YT=RR & US$ lower

  • Equities ESv1, oil LCOc1 gain due to US$ selling, EUR/USD bounce extends

  • Pair rallies near 1.2150/55 structural resistance, trades 1.2147 on EBS

  • Very little pull back seen as US$ buyers stay dormant, risk stays buoyant

  • Techs lean bullish, RSIs rising, pair above the rising 10- & 21-DMAs

  • EUR/USD longs gaining some confidence after data nL1N2N11BA

  • For more click on FXBUZ

eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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