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Apr 01 - 08:55 AM

EUR/USD - Gains Erode With Help From Yields, US Dollar

By Christopher Romano  —  Apr 01 - 08:25 AM
  • EUR/USD rallied to 1.0797 on EBS overnight with help from upbeat risk

  • Gold XAU= & equity ESv1 rallies & USD/CNH dip helped buoy EUR/USD

  • Pair slide from the high, NY opened near 1.0780, traded down -0.07%

  • US yield US2YT=RR firmed which widened DE-US spreads US2DE2=RR

  • US$ firmed along with yields; EUR/USD dipped below 1.0780 in early NY

  • Price action helped some bearish technical signals emerge

  • Daily inverted hammer formed, price drop followed March 29 doji candle

  • Falling daily, monthly RSIs reinforce the bearish signals

  • US March S&P Global (final) & ISM manufacturing PMIs are data risks in NY

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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