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Feb 29 - 08:55 PM

EUR/USD - Components To Cut In June - Data Will Decide

By Andrew M Spencer  —  Feb 29 - 07:00 PM
  • Steady after closing down -0.3%, as the U.S. dollar bounced in New York

  • Yield spreads were unchanged, 10yr bund -6bp 2.404%, 10yr UST -6bp 4.252%

  • Economists believe the ECB will cut in June, but many variables remain

  • U.S. markets also price a June cut - focus swings to the stronger US economy

  • Charts - 5, 10 & 21-day moving averages and momentum studies conflict

  • 21-day Bollinger bands contract - signals show no significant bias

  • A close above 1.0915, 50% of the December-February fall would be bullish

  • 1.0789 21 DMA and the 1.0856 top in New York are initial support, resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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