Tag Archives: EUR/USD

The Global Macro Pulse

USDJPY rose to 115.05 while EURUSD is at 1.2427, basically flat to its overnight lows.

It is a very quiet day on the data front with most important news coming out ofSweden.

The pair traded in a $1.2419 to $1.2496 range during the US session last night before it closed at $1.2421.

EUR/USD: Momentum clearly pro-decline. Further pressure on 1.25 level likely, breakthrough possible.

Thursday we wrote that we were “expecting a wave-(b) or 5 low near 1.24/25 this/next week”.

Risk aversion has been dampened, equities are strong, the U.S. 10year is stable at 2.29% and the USD is soft.

EUR/USD: had a short squeeze at the Europe open and went as high as 1.2490 on dollar selling across the board.

EUR/USD has rebounded after having posted2-year lows.

Today’s highlights: USDJPY is expected to retrace lower prior to the uptrend resuming,

The USD weakened slightly. USDJPY dipped to 114.09, EURUSD edged higher to 1.2486 and

EURUSD: As per Tue, specs added more to net euro shorts (& added to aggregated net dollar longs).

The main release will be the Fed’s Labour Market Conditions Index that it beganpublishing last month.