Free Trial

Post-Data USD Strength Stretches EUR/USD's Tight Range

USD
  • Greenback follows the Philly Fed-inspired lead from US yields, which briefly trade back through the 4.60% level before moderating - nonetheless the move in rates is enough to pressure EUR/USD to briefly print a daily low at 1.0660 and slightly widen today's relatively tight range in the pair.
  • Fed's Williams is set to make an appearance in just over 10 minutes time - speaking in a fireside chat with Semafor to provide "An Update from the Inflation Battlefield - Progress has been made on bringing down prices but several fights remain". Link to the livestream is here: https://www.youtube.com/watch?v=HcqP4JvE2MU
  • Bowman set to deliver opening remarks at the NY Fed community banking conference imminently.
  • Further pullback in the pair would put prices within range of 1.0656, the 38.2% retracement of the recovery bounce off the Apr16 low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.