The Euro has benefited to an extent from an upbeat German Ifo survey as all key metrics beat expectations and the institute noted that travel companies have turned a tad more optimistic for the first time in more than 12 months. We arte now looking at the 1.2180 D extension level as a point of impact for this pair to rebound from shorterm.
Although US Treasury yields have slipped from overnight highs near 1.40% in 10 year notes and 2.20% for the long bond, the Dollar has started the new (EU) week in better shape than it ended last Friday, and it appears to be regaining safe-haven appeal as stock markets get more anxious about the sharp/ongoing rise in long term rates. Indeed, the index rebounded firmly from worst levels between 90.211-578 parameters having held just above prior session and week lows (90.172 and 90.117 respectively), and could garner more momentum from a technical perspective if it can breach the pre-weekend high and/or 21 DMA that are in close proximity (at 90.655 and 90.662).
Although US Treasury yields have slipped from overnight highs near 1.40% in 10 year notes and 2.20% for the long bond, the Dollar has started the new (EU) week in better shape than it ended last Friday, and it appears to be regaining safe-haven appeal as stock markets get more anxious about the sharp/ongoing rise in long term rates. Indeed, the index rebounded firmly from worst levels between 90.211-578 parameters having held just above prior session and week lows (90.172 and 90.117 respectively), and could garner more momentum from a technical perspective if it can breach the pre-weekend high and/or 21 DMA that are in close proximity (at 90.655 and 90.662).
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