Beijing prodding may have reversed much of the week’s equities market pain, though I doubt positive sentiment will return anytime soon. Click here to read a weekly update.
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USD dollar advanced despite lower equities and retreating US Treasury yields.
US Treasury Secretary Janet Yellen said that rates might rise to prevent overheating the economy.
EUR/USD is under pressure and near a critical Fibonacci support level at 1.1980.
The EUR/USD pair edged marginally lower, ending the day around 1.2010 after hitting a daily low of 1.1998. The American dollar has strengthened against most of its major rivals, despite fluctuating stocks behavior. European indexes firmed up for most of the session, leading to gains in US futures, but there was a sudden U-turn ahead of Wall Street’s opening that led to substantial losses in European and American stocks. Wall Street bounced off intraday lows, reached after US Treasury Secretary Janet Yellen said that at some point, “interest rates will have to rise somewhat to make sure that our economy doesn t overheat.”
5/4/2021 7:33:09 PM GMT
EUR/USD Current Price: 1.2012
USD dollar advanced despite lower equities and retreating US Treasury yields.
US Treasury Secretary Janet Yellen said that rates might rise to prevent overheating the economy.
EUR/USD is under pressure and near a critical Fibonacci support level at 1.1980.
The EUR/USD pair edged marginally lower, ending the day around 1.2010 after hitting a daily low of 1.1998. The American dollar has strengthened against most of its major rivals, despite fluctuating stocks behavior. European indexes firmed up for most of the session, leading to gains in US futures, but there was a sudden U-turn ahead of Wall Street’s opening that led to substantial losses in European and American stocks. Wall Street bounced off intraday lows, reached after US Treasury Secretary Janet Yellen said that at some point, “interest rates will have to rise somewhat to make sure that our economy doesn t overheat.”
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EUR/USD Forecast: Shy bounce from near 1.2000 maintains the risk skewed to the downsideANALYSIS |
5/4/2021 1:06:57 PM GMT
EUR/USD Current Price: 1.2024
The greenback is firmer against most major rivals as investors eye US recovery.
US Treasury yields trimmed early intraday gains, hold within familiar levels.
EUR/USD has recovered from around 1.2000, but its bullish potential is limited.
The EUR/USD pair fell to 1.1998 on the back of renewed dollar’s strength, now bouncing from the level but still trading in the red. The dollar is firmer across the board, although markets are still struggling for a certain direction. Risk appetite prevailed for most of the European session but took a turn to the worse ahead of the US opening, dragging Wall Street’s futures lower. US Treasury yields started the day with a firm footing but quickly trimmed their intraday gains.