EUR/USD drops from around the 20-day EMA as sentiment deteriorates – by christianborjon EURUSD Majors Macroeconomics Fed ECB
ease of a US hot inflation report on Thursday, while mixed US economic data, and hawkish Fed commentary, bolstered the buck. At the time of writing, theFriday’s price action witnessed the EUR/USD opening around the highs of the day of 0.9808, above the 20-day EMA, but buyers unable to hold the fort paved the way for further losses.The US Commerce Department reported that Retail Sales stagnated in September, with figures coming at 0% MoM, below estimates of 0.
Some ECB speakers crossed wires. ECB’s Vasle said 75 bps in October and December might be appropriate, while ECB’s Centeno added that the ECB must be “tough” on inflation while suggesting that QT discussions should be pushed to the following year.illustrates the major stalled at the 20-day EMA, which exacerbated a fall towards the 0.9720 area. Key support lies at 0.9700, which, once cleared, could open the door for YTD low re-test at 0.9535. On the flip side, if the EUR/USD reclaims 0.
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