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
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Source:
Refinitiv IFR Research/Market Commentary