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TDUX
Jul 08 - 04:55 PM

EUR/USD - Soured Risk Faded To Let Bulls Gave Some Ground

By Christopher Romano  —  Jul 08 - 02:07 PM

• NY opened near 1.1410 after 1.1432 traded overnight, the pair neared 1.1415 early

• EUR/USD then fell as comments from President Trump on Iran tensions soured risk

• Oil , USD, US yields rallied and USD/CNH rallied above 6.8101

• Gold, silver and equities fell sharply as investtrs sought safer assets

• EUR/USD pierced the 10-DMA, channel base on daily charts; hit a 4-session low of 1.1391

• Buyers then emerged as USD, oil, US yields slumped as risk sentiment improved

• Stocks, gold eroded some losses & USD/CNH gave back some earlier gains

• EUR/USD turned positive, rallied back above the 10-DMA, neared 1.1430

• The pair then sat near 1.1425 after the Fed minutes, it traded up +0.11%
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters
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