EUR saw modest rebound amid USD pullback, and European PMIs surprised to the upside. Pair was last at 1.0825, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
Bearish momentum on daily chart shows signs of fading
“EUR saw modest rebound amid USD pullback while prelim PMIs surprised slightly to the upside. In particular, German manufacturing, services PMIs surprised.”
“Bearish momentum on daily chart shows signs of fading while RSI rose from near oversold conditions. We still call for rebound risks.”
- Gold struggles to reclaim $4,200 as Fed interest rate hike risks persist, US CPI looms
- Euro remains depressed against British Pound as France and Oil weighs
- Gold struggles below $4,200 amid stronger US Dollar, US CPI in focus
- Gold fails to sustain a break above $4,200, US CPI in focus
- Gold recovery stalls near $4,200 as US Dollar, Treasury yields stabilise
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