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Mar 12 - 03:55 PM

EUR/USD - Wheels Spin But Little Ground Is Covered

By Christopher Romano  —  Mar 12 - 02:09 PM

• NY opened near 1.0910 after a tight range traded in Asia & Europe

• Wild price swing followed below estimate US February CPI report

• US yields , US$ fell & DE-US spreads tightened

• EUR/USD spiked up to 1.0933 but the gains were short lived

• Yields, US$ firmed as risk soured & tariff influences persisted

• Spreads widened & stocks fell; EUR/USD neared 1.0875

• Risk improved a bit; stocks, gold rallied & USD/CNH slid downward

• EUR/USD neared 1.0925, sat near 1.0905 late, was down -0.08%

• Techs lean bullish; monthly RSI rising & gains being consolidated

• US February PPI & weekly jobless claims are data risks Thursday
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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