By Christopher Romano — Apr 25 - 01:40 PM
NY opened near 1.0725 then spiked up to 1.0741 on EBS after GDP, claims data
Below estimate headline GDP drove the spike up but gains were quickly erased
Above estimate GDP PCE, drop in claims rallied US yields US2YT=RR, US$
Stocks ESv1, gold XAU= fell and USD/CNH rallied towards 7.2700
EUR/USD fell to 1.0679 on EBS but bears ran out of steam, rally ensued
US$, yields slid from highs while stocks & gold rallied off the NY lows
EUR/USD turned positive, neared 1.0740, traded up +0.37% late in the day
Daily techs lean bullish; RSI is rising & a daily bull hammer candle formed
Monthly techs are mixed; doji is place and RSI is falling slightly
US March PCE & its potential impact on Fed policy is a key risk Friday
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary