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USD Rally Capped For Now
The US dollar has softened a little over early trading on Tuesday as the rally in equities has taken some of the steam out of the greenback’s recent rally. The US data sheet remains quiet until Thursday and Friday when we get CPI and Retail Sales respectively. If these readings continue the recent strength in US indicators, this could fuel fresh buying in USD. The index trades 98.71 last.
Fresh EU Fears For EUR
EURUSD has been a little firmer today with the Euro benefiting from weakness in USD. However, the move is very shallow and the outlook remains bearish for EUR. The results of the 2020 Irish general election have raised fears of further fracturing of the EU given the win for Irish unity party Sinn Fein. EURUSD trades 1.0912 last.
GBP Rallies in Better Data
GBPUSD has been higher today with price rallying to 1.2931 last on the back of stronger than expected UK data this morning. UK GDP was seen rising 0.3% over last month, beating expectations of a 0.2% re...
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