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Nov 10 - 07:55 PM

EUR/USD - Jumps, As The USD Swoons And Yield Spreads Tighten

By Andrew M Spencer  —  Nov 10 - 06:00 PM

  • Off 0.1% early after closing up 2%, as the USD tumbled on soft U.S. CPI

  • Yield spreads tightened, 10yr Bund -14bp to 2.003%, 10yr UST -28bp 3.811%

  • ECB rate comments are currently more hawkish than the Fed nL8N32672T

  • Yields spreads may provide underlying EUR support in the next few weeks

  • Charts; momentum studies, 5, 10 & 21 day moving averages move higher

  • 21 day Bollinger bands expand - a strong bullish trending setup

  • Targets a test of strong resistance at 1.0279, 38.2% of the 2022 fall

  • 0.9990 1.207 BLN, 1.000 1.382 BLN and 1.0020/25 699mln close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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