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Apr 25 - 04:55 PM

EUR/USD - Bulls Get Rattled By GDP, Claims Data But Recover Nicely

By Christopher Romano  —  Apr 25 - 01:40 PM
  • NY opened near 1.0725 then spiked up to 1.0741 on EBS after GDP, claims data

  • Below estimate headline GDP drove the spike up but gains were quickly erased

  • Above estimate GDP PCE, drop in claims rallied US yields US2YT=RR, US$

  • Stocks ESv1, gold XAU= fell and USD/CNH rallied towards 7.2700

  • EUR/USD fell to 1.0679 on EBS but bears ran out of steam, rally ensued

  • US$, yields slid from highs while stocks & gold rallied off the NY lows

  • EUR/USD turned positive, neared 1.0740, traded up +0.37% late in the day

  • Daily techs lean bullish; RSI is rising & a daily bull hammer candle formed

  • Monthly techs are mixed; doji is place and RSI is falling slightly

  • US March PCE & its potential impact on Fed policy is a key risk Friday

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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