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Free AccessSingle Currency Hits New 2021 Lows
EUR weakness extended further Tuesday, resulting in EUR/USD hitting new 2021 lows of 1.2013. The pair's pullback accelerated on the break of the Jan 18 low, opening a move toward the 1.20 handle and the 100-dma below at 1.1962. EUR/USD's decline mirrored the uptick in the USD index, which similarly hit the year's best levels and helped support the fifth consecutive session of gains for USD/JPY.
Elsewhere, currency markets were more orderly, with muted price action in spot markets reflected in a pullback for front-end implied vols.
CAD, USD were the strongest in G10, with AUD, NOK and EUR the poorest performers.
China's Caixin PMI data, Eurozone final PMI numbers, Eurozone CPI and ISM Services & ADP Employment Change data from the US are the focus Wednesday. Speakers include RBA's Lowe and Kashkari, Bullard, Harker, Mester and Evans of the Fed.
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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.