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May 01 - 03:55 PM

EUR/USD - PMI Helps Put Bulls Back In The Pen

By Christopher Romano  —  May 01 - 01:35 PM
  • EUR/USD opened NY near 1.1010 then rallied to 1.4043 on EBS

  • Lift aided by EUR/JPY hitting 150.965 on EBS, broad based US$ sales

  • Equity ESv1 gains & oil LCOc1 bounce off the low helped buoy risk

  • US April ISM mfg PMI jobs, pricing components climbed above 50

  • Rates SRAU3, US$ rallied & risk soured a bit, EUR/USD slid lower

  • 1.0965 hit on EBS, pair traded nearby late & traded down -0.42%

  • Falling daily, monthly RSIs, EUR/USD below 10-DMA are bearish tech signs

  • EZ April PMIs, HICP and US March JOLTS are data risks Tuesday

  • Fed risk looms for Wednesday, 25 bps hike expected, statement is key

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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