EUR/CHF has staged a steady rebound after forming a significant low near 0.9410 in September. The pair could extend its bounce while holding above the 0.9640/10 region, economists at Société Générale report.
Compression in 10y BTP/Bund underpins EUR/CHF“Tightening of 10-year BTP/ Bund spread to 189 bps, lowest since July, supports higher EUR/CHF.”
“Daily MACD is anchored within a positive territory which denotes prevalence of upward momentum.”“Defending daily Ichimoku cloud at 0.9640/0.9610 is essential for persistence in bounce.”“Short-term hurdles are at 200-DMA near 0.9970/1.0010.”
EUR/USD loses bullish momentum, declines toward 1.0250
EUR/USD has lost its bullish momentum and declined toward 1.0250 after having advanced above 1.0290 earlier in the day. Mixed comments from ECB officials make it difficult for the Euro to preserve its strength while the cautious market mood helps USD limit its losses.
GBP/USD clings to gains above 1.1850
GBP/USD has gained traction and climbed above 1.1850 during the European trading hours. In the absence of high-impact macroeconomic data releases, the risk perception is likely to continue to impact the USD’s valuation and drive the pair’s action.
Gold rises toward $1,750 as US yields edge lower
Gold price continues to push higher and trades within a touching distance of $1,750 heading into the American sessio. The more-than-1% decline witnessed in the benchmark 10-year US Treasury bond yield seems to be helping XAU/USD gather bullish momentum.