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Apr 10 - 03:55 PM

EUR/USD - CPI Puts Bears In Charge As Fed Cuts May Be Delayed

By Christopher Romano  —  Apr 10 - 01:35 PM
  • EUR/USD hit 1.08665 on EBS into NY's open, pair then erased overnight gains

  • Above estimate CPI sent the dollar & US yields US2YT=RR sharply higher

  • US$ yield advantage over the euro increased as spreads US2DE2=RR widened

  • Riskier asset fell; stocks ESv1, gold XAU= sank & USD/CNH neared 7.2620

  • EUR/USD fell below the 10-, 21-, 55- & 200-DMAs and the daily cloud base

  • 1.0729 hit on EBS before small bounce seen, pair down -0.97% late in the day

  • Falling RSIs, monthly inverted hammer candle are bearish tech signals

  • ECB meeting, China CPI/PPI, US PPI & claims are key risks Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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