eFXdata | EUR/USD - Sustained And Large Rise In Oil Prices Spells Trouble For EUR/USD Traders

By Jeremy Boulton — May 18 - 02:35 AM

• Rising oil weighs euro as ccy of an importer and supports USD

• EUR/USD traders added to bets on euro rising in week to May 15

• Longs grew to $5.9 billion equivalent from $4.7 billion

• Oil rises to $111 per barrel on May 18

• Crude oil has increased by $41 pb during Middle East conflict

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EURUSD

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)

Source:

London Stock Exchange Group | Thomson Reuters

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