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Apr 06 - 03:55 PM

EUR/USD - Risk Shift Sends Shorts Running

By Christopher Romano  —  Apr 06 - 01:45 PM
  • EUR/USD rallied slightly in Europe, NY opened near 1.0900

  • Pair rallied to 1.0920 on EBS immediately after US weekly claims

  • Gains quickly eroded however & an IMF report helped sour risk

  • Yields US2YT=RR, stocks ESv1, commodities XAU= fell

  • Jump in claims & IMF stoked investors concerns of slower growth

  • US$ bought on flight to safety, EUR/USD fell to 1.0886 on EBS

  • Risk improved after Europe's close; USD/CNH turned -ve, stocks gained

  • EUR/USD rallied into positive territory, hit 1.09375 on EBS

  • Techs are bullish; RSIs rising, pair above 10-DMA, consolidation in place

  • US March employment report is a key risk for Friday

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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