The EUR/USD pair rose on Tuesday, disregarding positive US data and higher Treasury yields. The pair reached a high of 1.0595 before pulling back and
The US Dollar fails to benefit from upbeat US data and higher Treasury yields. The Euro outperforms as European yields also rise. The EUR/USD pair trades near the 1.0600 area, maintaining a bullish bias. trimming its gains. The ZEW survey showed positive signs in the region, with the Eurozone Sentiment Index improving in October to 2.3 from -8.9, surpassing market expectations. The German ZEW also recovered from -11.4 to -1.1, beating the market consensus of -9.
The bond market continues to experience significant fluctuations. If Eurozone yields follow Treasury yields, the impact could be offset, as seen on Tuesday. However, robust US data is likely to limit the upside in the EUR/USD pair. On Wednesday, US Housing Starts, Building Permits, and the Fed's Beige Book are due. EUR/USD short-term technical outlook The EUR/USD has risen above the 20-day Simple Moving Average , which is still showing a negative slope.
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