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Feb 09 - 03:55 PM

EUR/USD - Bulls Shrug Off US Yield Rally

By Christopher Romano  —  Feb 09 - 01:35 PM
  • NY opened near 1.0770 after EUR/USD hit 1.07625 on EBS overnight

  • Pair rallied sharply after US Labor Department revised CPI data

  • EUR/USD hit 1.0796, rally stalled just short of the falling 10-DMA

  • Pair gained despite USD/CNH rally to 7.2198 (D3), US yield US2YT=RR gains

  • EUR/USD then neared 1.0785, pair traded up +0.10% late in the session

  • Overall US$ weakness, equity ESv1 gains helped EUR/USD stay positive

  • Rising daily RSI, daily bull hammer may fuel concerns for EUR/USD bears

  • Monthly RSI, corrective bounce off Feb. 6 low may give bears some comfort

  • US Jan. CPI looms, upside beat may see investors cut probability for Fed cut

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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