May 28, 2024 14:08 GMT
USD, Yields Gain on Better Consumer Confidence
CROSS ASSET
Homepagemarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
- Better consumer confidence numbers driving new gains across both US yields and the greenback, with EUR/USD now erasing the entirety of the overnight rally. USD Index close to flat on the day having steered clear of a material test of the 104.321 50-dma support.
- Fade off daily EUR/USD highs keeps rangeplay in focus for the pair ahead of the more likely determinants for direction later in the week (PCE details on Thursday & Friday and the MNI Chicago PMI to round-off the week).
- Consumer confidence reaction sees largest activity of the day across currency futures, and helps tip cumulative FX volumes ahead of average for this time of day - EUR futures volumes now ~13% ahead of what you'd expect at this time of day.
123 words