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Sep 04 - 03:55 PM

EUR/USD - Yen Strength Helps Erode Some JOLTS Induced Gains

By Christopher Romano  —  Sep 04 - 01:45 PM
  • NY opened near 1.1055, pair slid early, 1.1040 traded on EBS

  • Buyers emerged however, rally ensued & accelerated after July JOLTS

  • US yields US2YT=RR, US$ sank while DE-US spreads US2DE2=RR tightened

  • EUR/USD hit a 4-session high, traded 1.10953 on EBS, sellers then emerged

  • EUR/JPY neared 159.45 while stocks ESv1 fell & gold XAU= neared flat

  • EUR/USD slid below 1.1075, traded up only +0.26% late in the session

  • Techs are mixed; RSIs rising but pair consolidating drop from Aug 26 high

  • EUR/USD move above 10- & 21-DMAs give longs some comfort though

  • German July industrial orders, consumer goods, mfg o/p are risks in Europe

  • US Aug. ADP, weekly claims, Aug. ISM non-mfg are risks in NY's morning

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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