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Aug 22 - 11:55 PM

EUR/USD - Heavy, Awaits Aug EU PMIs

By Catherine Tan  —  Aug 22 - 10:50 PM
  • EUR/USD sideways so far in Asia but upbeat DXY, UST yields and techs weigh

  • Pair posted an outside day close below 1.0870 overnight

  • Break below 1.0830-33 supports risks test at 1.0797 200dma

  • Bullish USD theme, expectation Fed rates to remain higher for longer weighs

  • Overall negative sentiment in China adds to pressure on the EUR

  • EUR/USD traded 1.0842-57 range so far, last at 1.0852-56

  • DXY last at 103.51, traded 103.46-59, related nL1N39Z06Q

  • Focus on Aug EU PMIs - France and Germany mfg PMIs due at 0815, 0830GMT resp

  • Germany Aug manufacturing PMI forecast at 38.5 vs 38.8 prior - BBG

  • Aug Eurozone PMIs scheduled at 0900GMT, forecast 42.6 vs 42.7 previous

  • UST yields tad lower but remains much higher from end July nL1N3A2096

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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