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Apr 30 - 03:55 PM

EUR/USD - US Wage Surprise Gives Short A Boost Ahead Of Fed, Jobs Reports

By Christopher Romano  —  Apr 30 - 01:35 PM
  • NY opened near 1..0725 after 1.07355 traded on EBS in Europe's morning

  • Slide extended with help from upside surprise to US Q1 employment cost data

  • Broad based US$ buying took hold as data rallied US yields US2YT=RR

  • Risk-off took hold; stocks ESv1, commodities XAU=LCOc1 fell sharply

  • USD/CNH rallied above 7.2540 on D3 which reinforced risk-off sentiment

  • EUR/USD fell below the 10-DMA, hit 1.0676, was down -0.42% late in the day

  • Techs lean bearish; RSIs falling & pair below the 21- & 10-DMAs

  • Fed meeting, Powell presser are key event risks for Wednesday

  • US April ADP, S&P Global & ISM manufacturing PMIs are data risks Wednesday

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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