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Sep 10 - 03:55 PM

EUR/USD - Shorts Move Forward As US CPI, ECB Risks Get Nearer

By Christopher Romano  —  Sep 10 - 01:40 PM
  • NY opened near 1.1040 after 1.1050 traded on EBS overnight, slide extended

  • US$, yen buying and soured risk helped EUR/USD traded down to 1.10155

  • EUR/JPY drop to 156.79, USD/CNH rally to 7.1350 helped send EUR/USD lower

  • Equity ESv1, oil LCOc1 falls & wider spreads US2DE2=RR added weight

  • EUR/USD slide stalled & pair bounced, sat near 1.1025 & was down -0.08% late

  • Equities, gold turned positive & yields US2YT=RR softened to lift EUR/USD

  • Techs lean bearish; RSIs are falling & pair holds below 5- & 21-DMAs

  • US Aug. CPI risk Wed.; ECB risk Thurs., market expects a 25bps cut

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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