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Thomson Reuters
May 09 - 11:00 AM
EUR/USD: Moves Technical Now; Staying Short CAD/JPY - TD
First appeared on eFXplus on May 09 - 09:22 AM

TD Research discusses discusses EUR/USD outlook and think that technicals are tactically in the drivers seat around current levels. 

"The EUR moves are technical now, and we continue to watch the relative yield curves. For now, it is holding the 1.1830 level, suggesting room for an intraday bounce. HFFV sits at 1.20," TD notes

TD also remains in favor of JPY longs on the crosses expressing that via holding a short CDA/JPY position targeting a move to 81.50.

"We like CADJPY, mainly since the recent step up in oil prices reflect geopolitical stress rather than fundamentals," TD argues. 

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*Recorded in eFXplus Orders

 

Source:
TD Bank Research/Market Commentary

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