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EUR/USD Wednesday Update...

EUR/USD Wednesday Update...


It remains to be seen whether the dollar index can maintain or even firmly regain 93.000+ status after several unsuccessful attempts and short-lived recoveries, but a new high was forged on the back of an unexpected acceleration in headline US durable goods orders at 93.368 and the data is capping Treasury futures ahead of the 2nd leg of this week’s auctions. However, the Dollar is still prone to broader risk considerations and Thursday marks the start of the annual JH economic symposium along with spot month end for the official selling date to rebalance asset portfolios. In fact, the DXY has already erased and reversed gains to hit a fresh, albeit marginal 92.937 session low as cyclical, high beta and commodity currencies rally.

from Trading Ideas
via gqrds

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