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Thomson Reuters
Jun 05 - 03:48 PM
EUR/USD - ADP Gains Eroded By ISM Rescuing The Greenback
First appeared on eFXplus on Jun 05 - 01:55 PM
  • Big downside miss to May ADP sinks UST yields & US$
  • EUR/USD spikes above the daily cloud top, lift extends to 1.1307
  • US ISM non-mfg comes in above forecasts, UST yields bounce, US$ rallies
  • DE-US yield spreads widen a bit, EUR/USD slides as dollar bought broadly
  • Pair gives up all earlier gains, sits near 1.1230 late in the day
  • Daily techs lean bearish, RSI diverges, inverted hammer forms
  • Dovish ECB expected Thurs but impact of stance may be limited

chart: Click here

Source:
Thomson Reuters IFR Markets

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