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Nov 16 - 03:55 PM

EUR/USD - Despite US Data, Yields Longs Struggle To Maintain Gains

By Christopher Romano  —  Nov 16 - 01:35 PM
  • NY opened near 1.0850, pair then rallied to 1.08955 on EBS after US data

  • Claims, exp/imp prices, Philly Fed indicated jobs softening, disinflation

  • US yields US2YT=RR added to overnight losses which weighed on US$

  • USD/CNH CNH=D3 & oil LCOc1 drops helped EUR/USD hit session highs

  • Some gains eroded however as stocks ESv1 fell & EUR/JPY neared 163.25

  • EUR/USD traded near 1.0860 late, traded up only +0.13% late in the session

  • Daily RSI didn't confirm the 3-mo high, daily inverted hammer formed

  • Daily signals concern longs but monthly techs remain bullish

  • US Oct. Housing starts, building permits are data risks in NY Friday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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