[MARKET UPDATE] EUR/USD extends to new session highs at 1.1655 as DXY reverses earlier gains; newsflow remains light
Newsquawk Staff ·
EUR/USD extends to new session highs at 1.1655 as DXY reverses earlier gains; newsflow remains light.
What it means
The EUR/USD rally to new session highs at 1.1655 indicates a weakening U.S. dollar, as reflected in the DXY's reversal of earlier gains. This movement may suggest market positioning ahead of significant economic data, or ongoing sentiments impacting demand for the euro. Given the light newsflow, the trend could be driven by technical factors or broader risk sentiment rather than fundamental shifts.
- [MARKET ANALYSIS] Asia-Pac stocks trade mixed folowing the continued tech rout stateside where the Nasdaq 100 slipped into a correction and with markets cautious ahead of the US midterm election
- [MARKET ANALYSIS] Dollar is flat ahead of the midterms, while yuan weakens after the PBoC raised its FX RRR
- [MARKET ANALYSIS] T-note futures pulled back after gaining yesterday alongside a slump in oil prices, while demand is contained with cash treasuries trading shut overnight amid the Tokyo closure
- [MARKET ANALYSIS] Oil prices are contained after dropping 8% on Monday amid hopes for diplomacy and despite a report that the US conducting a small-scale, defensive attack on Iran's Qeshm Island
- [MARKET UPDATE] Asia-Pac stocks begin mixed with underperformance in the KOSPI following the continued tech rout stateside which saw the Nasdaq 100 dip into a correction, while demand is contained amid the holiday in Japan and looming US midterm elections
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