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Nov 07 - 01:24 AM
USD: A 2-Way Moves In The Buck: EUR/USD A Fade Into 1.12 - TD
First appeared on eFXplus on Nov 06 - 02:00 PM

TD Research maintains a sell-on-rallies bias in EUR/USD in the near-term.

"Besides this, the USD has had little follow-through on the ISM beat. The US growth story remains a bit murky given the Fed's Nowcasts have highlighted some pullback. While volatile, the Atalanta Fed's Nowcast sits below 1%, which also jives with the NY Fed Nowcast," TD notes. 

"This backdrop should reinforce the two-way moves in the buck, leaving the focus on some of the aforementioned relative value themes. EUR's a fade into 1.12," TD adds. 

Source:
TD Bank Research/Market Commentary

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