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Jun 03 - 05:55 PM

EUR/USD - US Data, Yields Help Put Shorts On Defense

By Christopher Romano  —  Jun 03 - 01:35 PM
  • EUR/USD fell below the 10-DMA overnight, hit 1.0828 (EBS) then rallied

  • NY opened near 1.0840, pair rallied above the 10-DMA, turned positive

  • Downbeat US May ISM manufacturing sent US yields US2YT=RR lower

  • DE-US spreads US2DE2=RR tightened and the US$ was sold broadly

  • USD/CNH fell towards 7.2530 while gold XAU= rallied sharply

  • EUR/USD pierced the t-l off the May 16 high, hit a 12-session high

  • 1.08905 hit on EBS, pair traded up +0.37% late despite equity ESv1 drops

  • Techs are bullish; RSIs are rising, pair above 10- & 21-DMAs

  • German May unemployment report is a risk Tuesday in Europe's morning

  • US April JOLTS and factory orders are risks in NY Tuesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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