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Derived real-time data in partnership with:
Thomson Reuters
May 01 - 12:12 PM
EUR/USD - Dollar Dives After Data Disappointments
First appeared on eFXplus on May 01 - 10:15 AM
  • Apr ISM nN9N21F00B & Mar construction spending nAQN00I7BM downbeat
  • Below forecasts data sink the dollar as UST yields dive
  • Eurodollar & FF futures prices reverse ADP induced drop, now rallying
  • Rally in short-term rate market prices increases odds of Fed cuts
  • EUR/USD spikes up to a new 5-day high, 1.1246 trades, little pullback
  • Techs increase bull signals, RSIs deepen bull bias pair above 21-DMA
  • 1.1255/65 is the next hurdle for bulls to overcome

chart: Click here

Source:
Thomson Reuters IFR Markets

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