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Oct 20 - 04:55 PM

EUR/USD - Risk Gyrations Make It Difficult To Hold Onto Gains

By Christopher Romano  —  Oct 20 - 01:40 PM
  • EUR/USD rallied in Europe, NY opened near 0.9805, wild swings ensued

  • Pair dipped toward 0.9780 in early NY then spiked up to 0.98455 on EBS

  • Lift aided by UK leadership change, GBP rally & upbeat risk sentiment

  • EUR/JPY rallied to 147.30 on EBS before dipping, USD/CNH neared 7.2200

  • EUR/USD gains eroded as US rate EDH3US2YT=RR gains buoyed US$

  • Equities ESv1 turned negative & commodity LCOc1 gains faded

  • EUR/USD fell below 0.9790 late, pair up +0.15% late in the session

  • Techs are mixed; pair above 10- & 21-DMAs but daily inverted hammer forms

  • EUR/USD shorts not buying higher US rates this time nL1N31L1EB

  • For more click on FXBUZ



Source:
Refinitiv IFR Research/Market Commentary

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