The bond market was closed in the U.S. on Wednesday giving traders little incentive to trade the greenback. With yields on hold until Thursday’s return,
The bond market was closed in the U.S. on Wednesday giving traders little incentive to trade the greenback. With yields on hold until Thursday’s return, the EUR/USD received a respite from its two week decline. The currency pair remains below resistance which was former support at 1.0806, while the exchange rate was unable to generate a new lower low. The RSI remains in oversold territory printing a reading of 29, which is below the oversold trigger level of 30.
Meanwhile, Draghi didn’t add much to the speculation about a deposit rate cut in a speech focusing on banking regulations. The ECB’s Hansson repeated that he doesn’t see the need for a cut in policy rates at the moment.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
