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Aug 30 - 03:55 PM

EUR/USD - Longs Take A Break Despite Upbeat Risk Sentiment

By Christopher Romano  —  Aug 30 - 02:00 PM
  • EUR/USD drops slight in Europe am despite rising DE inflation nL8N2Q12Q2

  • NY opens near 1.1795, US$ buying & rise in US rates sends pair lower

  • 1.1783 trades on EBS but buyers emerge as stocks, commodities, EUR/JPY rally

  • Rally in Dec 2022 eurodollar EDZ2 price helps temper US$ buying

  • EUR/USD lifts above 1.1800 but dips, sits near 1.1795 late in the session

  • Pair near flat late in the day, holds below 50-DMA, 23.6% Fib 1.2266-1.1664

  • EUR/USD faces upside risk from inflation, ECB influences nL1N2Q115Q

  • Data risks also loom, August global PMIs, US August jobs data due this week

  • For more click on FXBUZ

eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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