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EUR/USD Just Below Week's Best, Meets Retracement Off Thurs High

EUR
  • EUR/USD trades just off a fresh session high, with generally healthy volumes if futures activity is anything to go by. EUR/USD's 1.0949 print matches the 50% retracement for the downleg from the Thursday high. Progress through here will be needed before 1.0981 intraday resistance comes into play. US yields likely to play the key role across Tuesday trade, with today's final harmonized core CPI print seen unchanged from the flash at 3.6% Y/Y.
  • While EUR trading well over the past hour or so, AUD and NZD remain the firmest performers in G10 as the positive equity futures performance and the resolute weakness in the JPY buoy antipodean currencies.
  • Despite EUR/USD holding close to the week's best levels, EUR/GBP remains below the equivalent mark, with 0.8647 marking the next nearby upside level.

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