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17 Jun 2021

EUR/USD breaks under 1.1900, as the US dollar rises further

  • Euro remains under pressure versus US Dollar, DXY eyes 92.00.
  • Greenback extends gains even amid lower US yields.

After a brief consolidation pause, the EUR/USD resumed the downside and broke under 1.900, falling to 1.1890, the fresh two-month low. The pair has now fallen almost three hundred pips from the level it had a week ago.

USD, the shinning start no matter what

The US dollar printed fresh highs against most G10 currencies. In that group the yen is the outperformer on Thursday, still the greenback is the best of the week.

The fresh high of the US dollar took place even as US yields decline sharply. The 10-year is falling more than 6.35%, now under 1.48%, and even below the level it had prior to the release of the FOMC statement that triggered the rally of the greenback.

Equity prices are mostly lower in the US. The Dow Jones drops 0.93%, the S&P 500 falls by 0.38% while the Nasdaq gains 0.38%. Caution still prevails among investors driving demand for the US dollar.

The EUR/USD is on its way to the lowest daily close since April 7, the first one under the 200-day moving average in two months. Despite oversold readings in technical indicators, the momentum is still sharply negative, with the negative tone intact. On the downside, the next support might be seen around 1.1870/75.

Technical levels

 

Jun 17, 2021

Turkey: New outlook requires a more cautious CBRT – BBVA

The Central Bank of the Republic of Turkey kept the key interest rate unchanged at 19%, as expected on Thursday. According to the Research Department
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