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Jun 07 - 04:55 PM

EUR/USD - Slow Drift Toward The Recent Range Mid-Point

By Christopher Romano  —  Jun 07 - 01:42 PM
  • Tight range in Europe am, NY opens near 1.2155, tight range holds early

  • Pair then slowly rises as US 10-yr yield slides & eurodollar prices lift

  • US selling ensues, USD/CNH sinks below 6.3870, EUR/USD lifts above 21-DMA

  • Pair then pierces the 10-DMA, trades to 1.2202 before slight pull back

  • EUR/USD near mid-point of range established in mid-May ahead of key risks

  • US & China May CPI and ECB meeting are risks later in the week

  • US CPI, ECB inflation projections might offset each other nL2N2NP19Y

  • For more click on FXBUZ


eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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