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Apr 15 - 08:55 PM

EUR/USD - Softer As Strong US Data Increased Yield Spreads

By Andrew M Spencer  —  Apr 15 - 07:45 PM
  • -0.15% amid broad USD strength on strong retail sales and safe-haven demand

  • Yield spreads widened, 10yr bund +8bp to 2.431%, 10yr UST +13bp to 4.628%

  • ECB's chief economist Philip Lane said inflation is heading back to 2%

  • The disparity in the US and EU economic performance weighs on EUR/USD

  • Charts - daily momentum studies fall, 21-day Bollinger bands expand

  • 5, 10, and 21-day moving averages slide - bearish daily and weekly charts

  • 1.0665 early European high and prior 1.0695 2024 base are first resistance

  • 1.0620 New York and 2024 low then 1.0594, .786 of the Oct-Dec rise support

  • 1.0650 801mln and 1.0660/70 2.597BLN close significant strikes for April 16

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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