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Feb 24 - 05:55 PM

EUR/USD - Expectations For Fed, US Data Give Shorts A Win

By Christopher Romano  —  Feb 24 - 01:25 PM
  • US PCE data has investors expecting Fed to maintain hawkish policy

  • US rates EDZ3, US$ rallied; equities ESv1, commodities HGv1 fell

  • USD/CNH rally above 6.9810 helped to drive broad based US$ buying

  • EUR/USD hit a fresh 1-1/2-month low, struck 1.0536 on EBS, was nearby late

  • Techs are bearish; pair fell below 200-DMA, RSIs imply downside momentum

  • February's monthly inverted hammer bolsters the bearish signals

  • US Feb. ISM mfg, non-mfg PMIs & weekly claims are data risks next week

  • EZ February HICP is a key data risk out of the euro zone next week

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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