EUR/USD holds steady near 1.1135 amid falling German yields

Sell-off in Treasury yields offset the German yields slide amid risk-aversion.
Downside remains compelling ahead of German/ US inflation data.

Dhwani Mehta FXStreet

The EUR/USD pair extends its side trend near 1.1130 region in early trades, unperturbed by the intensifying risk-off moods amid the US-led protectionism and the resulting global growth worries.

A part of the pair’s resilience can be attributed to the sell-off in the US Treasury yields across the curve, with the benchmark 10-year yields sitting near 20-month lows of 2.170%. The weakness in the Treasury yields drags the US dollar off the two-week tops v. its main peers.

However, the bulls remain cautious and keep the upside attempts restricted, in the wake of the slide in the German 10-year bond yields to near record lows of -0.205% reached July, 6th 2016. Moreover, a sharp drop in the German retail sales also continues to weigh on the shared currency. Germany retail sales drop -2.0% m/m in April vs. +0.1% expected.

The immediate focus now remains on the German preliminary CPI figures that are expected to come in softer. Hence, the upside bias in the spot remains limited ahead of the German Prelim CPI, US Core PCE Price Index and UoM Consumer Sentiment data.

EUR/USD Technical Levels

EUR/USD

Overview
Today last price	1.1134
Today Daily Change	0.0003
Today Daily Change %	0.03
Today daily open	1.1131

Trends
Daily SMA20	1.1185
Daily SMA50	1.1215
Daily SMA100	1.1285
Daily SMA200	1.1382

Levels
Previous Daily High	1.1144
Previous Daily Low	1.1116
Previous Weekly High	1.1214
Previous Weekly Low	1.1107
Previous Monthly High	1.1326
Previous Monthly Low	1.1111
Daily Fibonacci 38.2%	1.1127
Daily Fibonacci 61.8%	1.1134
Daily Pivot Point S1	1.1116
Daily Pivot Point S2	1.1102
Daily Pivot Point S3	1.1087
Daily Pivot Point R1	1.1145
Daily Pivot Point R2	1.1159
Daily Pivot Point R3	1.1173

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD clings to multi-day peaks below 1.3500

GBP/USD trades with marked gains on Friday, now giving away some gains following an earlier surpass of the key 1.3500 yardstick. Indeed, Cable gathers fresh steam amid the strong offered stance in the Greenback, all after US NFP badly missed expectations in July.

EUR/USD: Post-NFP bounce falters around 1.1580

EUR/USD reverses Thursday’s decline and trades with solid gains in the 1.1560 region, or two-month peaks, on Friday. The pair’s firm performance comes in a context of a sharp correction in the US Dollar as investors continue to assess disheartening US NFP readings.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

XRP Price Forecast: XRP nears critical $1.00 support

Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.

Is Gold about to enter its biggest bull run since 2020?

Gold has stormed back into the spotlight and its next move could leave late buyers chasing. On August 5, the yellow metal surged almost 7% – roughly $174 – to close near $4,308 an ounce, posting one of its biggest daily advances in recent history. A weaker U.S dollar, falling Treasury yields, changing Federal Reserve expectations and renewed safe-haven demand all struck at once.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.