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Oct 18 - 03:55 PM

EUR/USD - Soured Risk, Geopolitics Give Shorts Traction

By Christopher Romano  —  Oct 18 - 01:40 PM
  • EUR/USD hit 1.0594 on EBS overnight then fell, NY opened near 1.0555

  • Mid-east tensions rallied oil LCOc1 & soured risk; US$ was underpinned

  • US yield US2YT=RR rally on housing data gave an added boost to US$

  • USD/CNH rallied to 7.3300 on D3 & stock ESv1 slide added to risk-off

  • EUR/USD 1.05225; late day US yield, US$ weakness lifted EUR/USD near 1.0550

  • Pair remained down -0.26% late in the session & techs leaned bearish

  • Daily RSI and move below the 10-& 21-DMAs give shorts some confidence

  • Fed's Powell & US weekly claims report a key risks in NY Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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