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May 02 - 04:55 PM

EUR/USD - Bulls And Bears Lack Conviction

By Christopher Romano  —  May 02 - 01:35 PM
  • NY opened near 1.0705 after 1.0728 traded on EBS in Europe's morning

  • Slide extended as yields US2YT=RR, US$ were firm in early trading

  • USD/CNH rally above 7.2350, commodity XAU= drops weighed on EUR/USD

  • 1.0675 traded but bears ran out of steam, buyers emerged

  • Equities added to gains, yields & US$ weakened, EUR/USD neared 1.0715

  • Pair traded near flat on the session, daily doji formed, implies indecision

  • US April payroll report & its impact on Fed policy is a key risk Friday

  • Data indicating softening jobs market could drive a EUR/USD rally

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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