5/6/2021 2:03:24 PM GMT | By Pablo Piovano
EUR/USD’s daily upside clinches peaks near 1.2070.
The greenback tumbles further and breaches the 91.00 level.
German 10-year Bund yields climb to highs near -0.22%.
The buying pressure around the European currency picks up further pace and lifts
EUR/USD to new 3-day highs around 1.2070.
EUR/USD bid on USD weakness
EUR/USD manages to return to the positive territory following two consecutive daily pullbacks, regaining around a cent since weekly lows in the 1.1990/85 band (Wednesday).
The renewed bullish momentum in the pair comes exclusively in response to the increasing selling pressure hitting the buck, particularly after somewhat disappointing data from the ADP report on Wednesday and dovish comments from FOMC members, who talked down any chances of tapering (for the time being) and reiterating the idea that upticks in inflation should be temporary.
5/3/2021 7:02:49 AM GMT | By Pablo Piovano
DXY reverses Friday’s gains above the 91.00 mark.
US yields struggle for direction above 1.60% so far.
The ISM Manufacturing will take centre stage later in the session.
The greenback, when tracked by the
US Dollar Index (DXY), has so far met a decent hurdle around 91.40 at the beginning of the week.
US Dollar Index looks to data
The index reverses the initial optimism and fades earlier gains to the 91.40 area despite the steady performance of US yields and against the backdrop of the rising optimism on the US economic rebound.
In fact, the latter remains supported by better-than-expected results in domestic fundamentals in past weeks as well as the solid pace of the vaccination campaign.
4/29/2021 8:54:32 AM GMT | By Pablo Piovano
EUR/USD comes under downside pressure, still above 1.2100.
Higher US yields sustain the bounce off lows in the dollar.
German advanced April CPI figures next in the calendar.
After hitting fresh monthly highs around 1.2150 during early trade,
EUR/USD saw its gains trimmed and now tumbles to session lows in the 1.2110 region.
EUR/USD recedes from 2-month peaks
The rally in EUR/USD manages to reach fresh tops in the 1.2150 region earlier in the Asian session on Thursday, although the move run out of some steam soon afterwards and in response to the resurgence of the buying interest in the dollar.