US treasury bond surprise drives Gold and EUR/USD higher. Crude Oil elevated [Video]
Gold is easing slightly after rallying 4% in the previous session to a two-month high, following a U.S. Treasury announcement aimed at supporting long-duration bonds that weakened the dollar and pulled Treasury yields lower.
Euro: Upside bias targets 1.1725 against US Dollar – UOB
EUR/USD Price Forecast: Doubling US bond-buying plan opens way for 1.1800
DXY remains under pressure as Treasury buybacks push long-term yields lower, while EUR/USD and GBP/USD extend gains amid shifting rate expectations.
If the dollar debasement narrative is going to show up anywhere in the FX universe, you'd imagine the euro would be the obvious place. It carries the largest weighting in the US Dollar Index, giving EUR/USD outsized influence as a gauge of broader dollar sentiment.
Morning briefing: EUR/USD may rise to 1.1700
During today's trading session, the EUR/USD pair has posted a gain of more than 0.8% in favor of the euro, marking one of its strongest bullish moves in recent weeks and once again reinforcing a notable bullish bias in the short term. Buying pressure has remained firm following the release of the Federal Reserve's minutes, which continue to highlight persistent weakness in the U.S. dollar.
Euro rises to June highs as falling US Treasury yields weigh on US Dollar
Euro: Extends rebound as yields stabilize against US Dollar - Danske Bank
DXY tests critical support as traders await Fed minutes, while ECB rate expectations and UK inflation shape the outlook for EUR/USD and GBP/USD.
EUR/USD Price Forecast: Gathers strength above 1.1550, bullish outlook remains intact