Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Apr 11 - 04:55 PM

EUR/USD - February's Low Untouched After ECB, Upward Risk Shift

By Christopher Romano  —  Apr 11 - 02:00 PM
  • NY opened near 1.0730, pair slid to 1.0715 then traded 1.07565 on EBS

  • Price action took hold after ECB statement, US PPI & weekly claims data

  • EUR/USD then hit a 2-month low during Lagarde presser, Fed rate cut rhetoric

  • 1.0699 traded on EBS, buyers emerged however as risk shifted upward

  • US yields US2YT=RR softened while stocks ESv1, gold XAU= rallied

  • EUR/USD neared 1.0730, pair traded down only -0.13% late in the day

  • Rally away from Feb. low resulted in a bull hammer, a concern for shorts

  • Falling RSIs & April's monthly inverted hammer are concerns for longs

  • China March exports/imports, trade balance are data risks in Asia

  • US export/import prices, April U of Michigan are data risks in

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved
!