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EUR/USD: Bear’s Return Eyes 1.1700 Ahead Of US Durable Goods Orders - DailyForexTrading

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EUR/USD: Bear’s Return Eyes 1.1700 Ahead Of US Durable Goods Orders - DailyForexTrading

 

 

  • EUR/USD snaps three-day uptrend, pressured near intraday low of late.

  • US dollar tracks firmer Treasury yields amid indecision over Fed’s tapering, covid woes.

  • German IFO number, US Durable Goods Orders will decorate the calendar but Powell’s Jackson Hole Symposium speech is the key.

EUR/USD holds lower ground near intraday low after snapping a three-day run-up during early Wednesday.

That said, the currency-major pair drops 0.15% on a day surrounding 1.1730 heading into the European session. The covid woes and fading vaccine optimism, as well as cautious mood ahead of the Jackson Hole Symposium event, underpin the US dollar’s safe-haven demand.


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With this, the US Dollar Index (DXY) rises 0.17% daily to take a U-turn from the weekly low, not to forget marking the first positive day in the last four. In doing so, the greenback gauge follows the US 10-year Treasury yields, as the bond coupon stays firmer around 1.30% after rising the most in two weeks the previous day. Continue reading With FX Street...




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