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Aug 02 - 04:55 PM

EUR/USD - Dollar Buoyed On Jobs Data, Yield Gains GDP Upgrade

By Christopher Romano  —  Aug 02 - 01:50 PM
  • EUR/USD opened near 1.0980 after 1.1020 hit on EBS overnight, slide extended

  • July ADP increased more than expected, indicating jobs market remains robust

  • Bank of America upgraded U.S. 2023 GDP outlook to 2.0% from prior 1.5%

  • US yield US2YT=RR rallies helped buoy US$; USD/CNH rallied to 7.2131 (D3)

  • EquitiesESv1, oilLCOc1, EUR/JPY fell on flight to safety as risk soured

  • EUR/USD broke the July 10 & 28 lows, hit a 1-month low of 1.0917 on EBS

  • Slide stalled just short of the 55-DMA but techs highlight downside risks

  • Daily, monthly RSIs falling, daily chart shows possible head & shoulders top

  • China's July Caixin services PMI a risk in Asia, big risks for NY Thursday

  • US weekly claims, July ISM non-mfg PMI may have significant impacts on risk

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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