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Mar 13 - 03:55 PM

EUR/USD - US Dollar Bulls Could Not Maintain Traction

By Christopher Romano  —  Mar 13 - 01:50 PM
  • NY opened near 1.0930 after 1.0920 traded on EBS overnight, rally extended

  • Overnight US$ rally faded & selling began as yields US10YT=RR softened

  • Riskier assets rallied; stocks ESv1 turned positive, gold XAU= up +0.91%

  • USD/CNH slide from high & drop below 7.1900 also helped lift EUR/USD

  • Pair traded 1.09635 in NY's afternoon, was up +0.32% late in the day

  • Techs are bullish; RSIs rising, rally followed Tuesday's daily doji candle

  • Rising daily, monthly RSIs and hold above 10-DMA reinforce bull signs

  • US Feb. PPI, retail sales & weekly claims reports are data risks Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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