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Apr 07 - 08:55 PM

EUR/USD - The Disparity Between German And US Data Caps

By Andrew M Spencer  —  Apr 07 - 07:35 PM
  • -0.1% early after recovering from a post-US job 1.0791 dip to close flat

  • Yield spreads widened, 10yr bund +4bp to 3.399%, 10yr UST +7bp to 4.378%

  • German industrial orders disappointed on Friday, as weak demand continues

  • The sharp contrast between the current German and US data should cap EUR/USD

  • Charts - daily momentum studies base/rise, 21-day Bollinger bands contract

  • 5, 10, and 21-day moving averages conflict - setup suggests consolidation

  • 1.0791 NY low and last week's 1.0876 high are initial support and resistance

  • 1.2630/35 614mln are the only close significant strikes for April 8th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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