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Aug 12 - 03:55 PM

EUR/USD - US Yields Help Shorts Gain Some Traction

By Christopher Romano  —  Aug 12 - 01:35 PM
  • EUR/USD slid in Europe, NY opened near 1.0290, the slide extended

  • Pair fell despite more data indication US inflation moderating nL1N2ZO1AO

  • US yields US2YT=RR erased the data induced drop & turned positive

  • US$ bought broadly on the back of rates while EUR/JPY fell to 136.91 on EBS

  • EUR/USD hit 1.0239 on EBS but buyers emerged ahead of the 10-DMA

  • A bounce ensued as the US$ softened, EUR/USD rallied above 1.0265 late

  • Techs lean bullish; pair above 10- & 21-DMAs, monthly RSI is rising

  • EUR/USD longs need a fresh catalyst nL1N2ZO14Z

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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