By Justin Mcqueen — Oct 09 - 06:00 AM
The run up trade into the ECB meeting should be for the euro to head lower
Yield spreads signal room for EUR/USD to fall to 1.0850
Upgrade to Atlanta Fed GDPNow (3.2% vs 2.5%) emphasises U.S. exceptionalism
In turn, providing another layer of support for the dollar
Despite pushback from ECB hawks on an Oct cut. This remains the base case
Technically, support sits at 1.0933 (100DMA) and 1.0875 (200DMA)
Meanwhile, resistance is at 1.1000, 1.1035 (55DMA/Pre-NFP level)
Close above 1.1050 would be a worry for shorts
COMMENT-Fed minutes could be a bigger event than usual nL1N3LK0KG
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary