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Jan 25 - 03:55 PM

EUR/USD - Dollar Bulls Can't Maintain Traction

By Christopher Romano  —  Jan 25 - 01:35 PM
  • EUR/USD traded 1.09115-1.08575 in Europe's morning, NY opened near 1.0865

  • Firmer US rates EDZ3, US$ & EUR/JPY fall to 140.78 on EBS weigh on EUR/USD

  • Buyers emerged however as US$ buys abated & risk improved slightly

  • Equities ESv1 bounced, USD/CNH fell below 6.7720, EUR/JPY neared 141.30

  • EUR/USD rallied to 1.09235, fell to 1.0874 then rallied again

  • US$ weakness intensified after the US 5-year note auction nAQN2H7EQE

  • EUR/USD neared 1.0920 late in the session, traded +0.26% late in the day

  • Techs are bullish; RSIs rising, daily & monthly bull hammers are in place

  • US Dec. durable goods & new home sales, Q4 GDP, weekly claims due Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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