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Apr 23 - 11:55 AM

EUR/USD - PMI Reports Has Shorts Running For The Hills

By Christopher Romano  —  Apr 23 - 09:55 AM
  • S&P Global services, composite PMI drop from March, are below estimates

  • The manufacturing component of PMI fell into contraction territory

  • US yields US2YT=RR turned lower on the session, drove US$ lower

  • DE-US spreads US2DE2=RR tightened, stocks ESv1 & gold XAU= lifted

  • EUR/USD spiked higher, 1.07045 traded on EBS, a 7-session high

  • Key resistance near 1.0695 was pierced, is a bullish tech signals

  • Rising daily RSI, move above 10-DMA reinforce bullish signs

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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