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EUR/USD lacks support from Eurozone Bond yields – FXStreet

FXStreet (Barcelona) - FXStreet Editor and Analyst Omkar Godbole sees the single currency failing to gain strength post the release of the Q3 data, and highlights the probability of a recovery to 1.26 levels if treasury yields decline post US Retail data release.

Key Quotes

“Since the pair has not responded to the upbeat Eurozone GDP report, the recovery appears contingent on the fall in the US Treasury yields.”

“The US Advance Retail Sales data for October is expected to come-in at 0.2%, completely erasing the previous month’s decline of 0.3%.”

“A surprisingly sharp decline in the Advance retail sales is likely to help the EUR/USD pair regain strength towards 1.2550-1.26 levels.“

“In case, the US Retail sales number prints higher than expected, the prospects of recovery in the EUR/USD would weaken. In such case, the pair is likely to fall below 1.24 levels.”

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