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Thomson Reuters
Jul 27 - 03:48 PM
EUR/USD - Near-Forecast GDP Not Enough To Spring EUR/USD From Trap
First appeared on eFXplus on Jul 27 - 02:15 PM
  • EUR/USD marginally higher as U.S. GDP barely met high expectations
  • Rangebound for 9 wks. Down TL since Jun 14 high @1.1735 on Monday
  • No noted shift in Fed hike pricing, Bund-Tsy spreads still bearish
  • T-notes stuck below 3% reducing hikes headroom before curve inversion
  • BTP-Bund spreads wider on Grillo euro referendum story
  • Focus shifts to BOJ, FOMC & July econ data, especially NFPs & ISM
  • Techs overdue for breakout of extended 1.1508-1.1854 range

Chart: Click here

Source:
Thomson Reuters IFR Markets

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