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Nov 22 - 11:55 AM

EUR/USD - US Dollar Gains On PMI

By Christopher Romano  —  Nov 22 - 09:55 AM
  • US Nov. services PMI come in well above estimate, composite PMI up from Oct.

  • Nov. manufacturing PMI rises from Oct., meets f/c, stays in contraction

  • US yields US2YT=RR rallied, DE-US spreads US2DE2=RR widened further

  • Equities ESv1 & USD/CNH rallied, gold XAU= softened a bit

  • EUR/USD fell towards 1.0405, traded down -0.62% after the data release

  • 1.0440/50 zone is turning into resistance after being support

  • Falling daily, monthly RSIs imply downward momentum is still in place

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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