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Apr 09 - 09:55 PM

EUR/USD - Steady As Yields Slip Ahead Of Thursday's ECB Decision

By Andrew M Spencer  —  Apr 09 - 07:50 PM
  • Little changed after closing -0.05%, after reversing off 1.0885 in New York

  • Yield spreads widened, 10yr bund -8bp to 2.368%, 10yr UST -6bp to 4.363%

  • ECB rate decision tomorrow - no change but ECBWATCH prices 23.95pt June cut

  • The ECB statement and press conference will be key for June expectations

  • Charts - daily momentum studies rise, 21-day Bollinger bands contract

  • 5, 10, and 21-day moving averages conflict - charts suggest consolidation

  • Monday's 1.0821 European low and Friday's 1.0791 base are initial supports

  • 1.0884, 61.8% of March/April fall, and the 1.0885 NY high first resistance

  • 1.0875 900mln and 1.0900 2.262BLN are the close strikes for April 10th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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