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Jun 04 - 08:36 AM

EUR/USD - Investors A Bit Indifferent To Upside ADP Surprise

By Christopher Romano  —  Jun 03 - 08:30 AM
  • May ADP employment results are much higher than estimates nN9N2BW00J

  • UST yields add to gains while fed funds & eurodollar prices sink a bit

  • US$ bounces slightly after data but market reaction is muted overall

  • EUR/USD dips below 1.1190 but quickly recovers towards 1.1200

  • Pair holds most of day's gains, holds above 61.8% Fib of 1.1495-1.0636

  • Daily, monthly RSI imply bull momentum intact, test of March 16 high likely

  • Key risks remain though, ECB & US claims on Thurs, May NFP data due Friday














eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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