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Jul 24 - 04:55 PM

EUR/USD - Rallies In NY To Highest In Nearly Two Years, PMIs Adds Contrast

By Randolph Donney  —  Jul 24 - 02:50 PM
  • Strong rebound in NY after profit-taking on EUR/JPY longs exhausted

  • EUR/USD clears S-T Fibo hurdle at 1.1639 on EBS nL2N2EV0WK

  • Close above there suggests extension toward L-T targets by 1.18

  • But prices are increasingly overbought on dailies

  • Strong euro PMIs nL5N2EV215 and flat U.S. PMI nZON000MEP ad contrast

  • 10-yr Bund-Treasury yield spreads least negative since April's peak

  • EU summit success, doubt about US pandemic path, relief main drivers

For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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