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May 18 - 04:55 PM

EUR/USD - Two Month Low Hit With Data, Spreads Help

By Christopher Romano  —  May 18 - 01:45 PM
  • EUR/USD opened NY near 1.0815 after it slid lower in Asia & Europe

  • Drop intensified after US weekly claims, Philly Fed data releases

  • Rates SRAU3, US$ rallied; US-German spreads widened US2DE2=RR

  • EUR/USD fell below the daily cloud base and April's monthly low

  • A 2-month low was struck, pair traded 1.07625 on EBS late in the session

  • USD/CNH rally above 7.0600, oil LCOc1 drop helped weigh on EUR/USD

  • Techs are bearish; RSIs are falling, pair traded below the 55-DMA

  • Friday risks include Fed speakers, comments out of the G7 meeting

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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