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TDUX
Jul 01 - 08:55 AM

EUR/USD - Consolidating As US Jobs Reports Begin In Earnest

By Christopher Romano  —  Jul 01 - 07:11 AM

• EUR/USD fell back below the 10-DMA overnight, traded 1.1420-1.1386

• NY opened near 1.1400, the pair traded down -0.23% in early action

• Broad-based USD buying, rally in US yields weighed on EUR/USD

• Drops in gold, silver, equities & rally in USD/CNH contributed weight on EUR/USD

• EUR/USD is consolidating gains from the rally off the June 24 low, is a bull signal

• Hold below 10- & 21-DMAs, falling RSIs are concerns for EUR/UDS bulls however

• US June ADP & ISM manufacturing PMI are data risks in NY's morning

• Investors to focus Fed Chair Warsh's talk in Sintra Portugal at 9:00 EDT
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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