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Aug 02 - 03:48 PM
EUR/USD - Short Covering Extends On Heightened Trade Concerns
First appeared on eFXplus on Aug 02 - 02:00 PM
  • US$ & rates slip early on US July employment report
  • Data impact from jobs report limited due to latest US-Sino trade tensions
  • US 10-yr yield dips below 1.85%, eurodollar & fff prices rally (rates fall)
  • DE-US spreads tighten, US$ generally heavy, EUR/USD lifts above 1.1115
  • Techs warn shorts, RSIs diverged, rally follows Aug 1 bull hammer
  • Trade tensions put EUR/USD shorts in the hot seat

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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