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Apr 23 - 03:55 PM

EUR/USD - Shorts Come Under Pressure After US PMI Surprises

By Christopher Romano  —  Apr 23 - 01:40 PM
  • NY opened near 1.0655 after 1.06385 traded on EBS in Europe's morning

  • Rally extended with help from surprises to April S&P Global PMIs

  • Data indicating slowing business activity sank yields US2YT=RR, US$

  • German-US yield spreads US2DE2=RR tightened, risk assets rallied

  • USD/CNH slid from its high, stocks ESv1 & gold XAU= rallied

  • EUR/USD rallied away from the 10-DMa, hit a 7-session high of 1.0711

  • Rising daily RSI, daily bull hammer are concerns for EUR/USD shorts

  • German April Ifo, Us March durable goods are data risks Wednesday

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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