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Apr 03 - 03:55 PM

EUR/USD - While The Fed Speaks Bulls Run

By Christopher Romano  —  Apr 03 - 01:35 PM
  • EUR/USD opened near 1.0775 after 1.0764 hit on EBS overnight, rally extended

  • Pair dipped early NY on above estimate March ADP but buyers emerged

  • US yieldsUS2YT=RR, US$ sank & spreads US2DE2=RR tightened on ISM non-mfg

  • Stocks ESv1, gold XAU= gains & USD/CNH fell to 7.2479 on D3

  • US$ slide extended after comments from Fed's Bostic and Chair Powell

  • EUR/USD rallied above 10-DMA, daily cloud base & neared the 55- & 200-DMAs

  • Pair traded 1.0836, a 5-session high, was up +0.55% late in the session

  • Rising daily RSI, monthly bull hammer, cloud piercing give techs a bull lean

  • US weekly claims, slew of Fed speakers are risks for Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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