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Apr 20 - 03:55 PM

EUR/USD - Data, Rates Gives Longs Some Traction

By Christopher Romano  —  Apr 20 - 01:40 PM
  • After rallying to 1.09785 on EBS overnight EUR/USD opened NY near 1.0970

  • US$ buying then drove EUR/USD down to 1.09335 on EBS but buyers emerged

  • Claims, Philly Fed & housing helped send US rates SRAU3, US$ lower

  • DE-US spreads US2DE2=RR tightened & prospect of Fed pause & cuts grew

  • EUR/USD hit a 3-session high of 1.0990, neared 1.0970 on late day US$ buys

  • EUR/JPY drop below 147.20 helped bring EUR/USD to the late day levels

  • Techs lean bullish; RSIs rising, pair above 10-DMA, 50% Fib 1.2349-0.9528

  • US, Euro zone April PMIs are key data risks for Friday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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