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May 14 - 08:55 PM

EUR/USD - Yield Spreads Support Into US CPI - 1.0834 Resilient

By Andrew M Spencer  —  May 14 - 08:00 PM
  • Trades -0.05% early after closing up 0.25% with the USD off 0.2%

  • Tighter yield spreads supported, 10yr bund +4bp 2.540%, 10yr UST -3bp 4.445%

  • German investor morale at a 2yr high, but German 2024 growth forecast cut

  • Today's U.S. CPI will be pivotal for US rate expectations and likely the USD

  • Charts - momentum studies, 5, 10, and 21-day moving averages climb

  • 21-day Bollinger bands rise - daily charts maintain the positive setup

  • 1.0831 upper 21-day Bolli and 1.0834 0.618% of the Mar/Apr fall likely cap

  • Friday's 1.0760 low, then the 1.0724 double-bottom are initial supports

  • 1.0795/00 1.241 BLN and 1.0820/25 1.657 BLN close major strikes for May 15th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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