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Sep 27 - 01:55 PM

EUR/USD - Early NorAm Rise Above 1.12 Short-Lived As ECB October Cut Odds Grow

By Paul Spirgel  —  Sep 27 - 11:35 AM
  • EUR$ slid from NorAm high 1.1203, falling to 1.1170 by the European fix

  • The pair rallied near its 2024 high 1.1214 after soft U.S. PI, consumption

  • Rise on falling UST yields pared as mkts see rising odds for Oct ECB cut

  • Soft France and Spain inflation prints seen supporting Oct ECB cut

  • Big banks add October cut to ECB forecasts nL8N3L912H

  • Consolidation of gains off Sept. 11 low, rising RSIs are bullish signals

  • GBP$ supt 1.1147 the 200-HMA, 1.1125 Friday low, 1.1111 30-DMA

  • Res 1.1203 Friday high,, 1.1214 2024 high on Wednesday, 1.1240 Jul 19 2023 high

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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