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Oct 31 - 08:55 PM

EUR/USD - Opens Lower As US-DE Yield Spread Widens

By John Noonan  —  Oct 31 - 06:35 PM
  • EUR/USD opens -0.37% after a whippy session ending in a reversal lower

  • Soft EZ inflation contrasted with hotter than expected US wage inflation nL1N3C119VnL1N3C119V

  • Yield spread between US and Germany widened in favour of the USD nL1N3C12ODnL1N3C110X

  • Surging USD/JPY after BOJ decision broadly supported USD in the end nL1N3C12DJ

  • EUR/USD continued to whip between 1.05/1.07 without trending

  • The 55-day MA breifly broke, but still provided strong resistance

  • It comes in at 1.0663 today and close above would be bullish

  • EUR/USD support is at the 2023 low at 1.0448 with bids around 1.0520

  • Range trading likely to continue ahead of FOMC decision later today

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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