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Nov 30 - 03:55 PM

EUR/USD - Upside Risks Remain After US Data, Powell Comments

By Christopher Romano  —  Nov 30 - 01:45 PM
  • EUR/USD slowly lifted in Europe, NY opened near 1.0355, rally extended

  • Equity ESv1, commodity LCOc1 gains drove risk-on and US$ lower

  • Pair struck 1.0400 on EBS after US data nL1N32Q1AU but the rally reversed

  • Rising US rates EDH3 drove broad based US$ buys, USD/CNH neared 7.1015

  • EUR/USD fell below the 200- & 10-DMAs, turned negative & hit 1.0290 on EBS

  • Fed Chair Powell comments nS0N30W01U help drive rates EDH3, US$ down

  • EUR/USD rallied above 1.0370 and was +0.45% late in the session

  • Tech lean bullish; RSIs rising & pair trades above the 10- & 200-DMAs

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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