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Aug 12 - 05:55 PM

EUR/USD - Still Struggling Above 1.18 Despite Dollar Demerits

By Randolph Donney  —  Aug 12 - 03:05 PM
  • EUR/USD's cleared 1.18 after U.S. CPI rise hit TIPS yields

  • But record hoard of IMM net spec longs is making gains difficult

  • Nice bounce from 1.1711 EBS low ahead of last week's 1.1695 low

  • Bulls need a close above the August 6 trend high day's 1.1818 low

  • Recovery in S&Ps after Tuesday's late dive is supportive

  • As are concerns about the Fed's policy predicament nL1N2FE0VF

  • Jobless claims and retail sales are the next U.S. event risks

  • No indication U.S. pandemic relief talks will resume nL1N2FE0ND

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Source:
Refinitiv IFR Research/Market Commentary

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