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EUR/USD pokes key support around 1.1850 as bears welcome H2 2021, US ISM PMI eyedNEWS |
7/1/2021 3:54:31 AM GMT | By Anil Panchal
EUR/USD remains depressed around three-month low, amid four-day downtrend.
Upbeat Treasury yields, covid headlines back US dollar.
German Retail Sales, ECB’s Lagarde can offer additional directives.
EUR/USD stays heavy for the fourth consecutive day around 1.1850, down 0.07% intraday, heading into Thursday’s European session. The currency major pair dropped to the lowest since early April the previous day but a four-month-old horizontal support test bears afterward.
The US dollar index (DXY) seesaws around the highest levels in three months, flashed on Wednesday, as market players seek safety amid escalating coronavirus (COVID-19) concerns in Asia-Pacific. That said, Australia witnesses local lockdowns with a higher covid count while Indonesia is up for a national emergency during July 02-20. Furth
7/1/2021 2:28:55 AM GMT | By Anil Panchal
S&P 500 Futures remain mildly bid near theee record top.
Upbeat US data contrasts figures from China, Japan but hawkish Fedspeak keeps buyers hopeful.
US Treasury yields recover from weekly low amid covid-led fears.
US ISM Manufacturing PMI can entertain traders ahead of Friday’s NFP.
S&P 500 Futures remain on the front foot, up 0.20% around 4,297, during early Thursday. The risk barometer justifies the market’s optimism of the West economies’ recovery from the pandemic even as the Asia-Pacific region struggles with the coronavirus (COVID-19) variant.
Not only the upbeat figures of US ADP Employment Chang and Chicago Purchasing Managers’ Index but comments from the Fed policymakers also highlight the US economic strength. Recently, Dallas Fed President Robert Kaplan reaffirmed his hawkish stance and said, I’d want to taper sooner than the end of the year.
Stocks pare gains after ISM, meme stock mania returns, cryptos struggle
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Many Americans got their first taste of normalcy this weekend, so it is no surprise that airlines, cruise ships, and hotels, pretty much all the favorite reopening trades got off to a strong start. The reflation trade seemed to be back as commodities surge across the board, supporting the move higher with Treasury yields. It initially looked like optimism will be the theme leading up to Friday’s jobs report. A strong nonfarm payroll report that includes an upwardly revised prior reading could be what is needed to send Treasury yields higher again.
AUD/USD steadies above 0 7600 ahead of US data forexcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexcrunch.com Daily Mail and Mail on Sunday newspapers.