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May 03 - 11:55 AM

EUR/USD - A Four Session High Hit After April Services PMI

By Christopher Romano  —  May 03 - 10:25 AM
  • US April ISM non-mfg 51.9 versus 51.2 in March, estimate of 51.8

  • Prices paid component up to 59.6 but jobs slumps to 50.8 from 51.3

  • US yields US2YT=RR, US$ sink slightly, jobs data may be impacting

  • EUR/USD rallied to 1.1054 on EBS, hit a 4-session high then dipped

  • Techs are bullish; monthly long legged doji formed, RSIs rising

  • EUR/USD trading above the rising 10- & 21-DMAs reinforces bull signs

  • Fed risk looms, 25 bps hike expected, statement may be more impactful

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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