- EUR/USD leaves behind Monday’s retracement and retakes 1.0900.
- The dollar struggles to extend the rebound amidst lower yields.
- EMU Investor Confidence surprised to the upside in April.
The single currency regains upside traction and lifts EUR/USD back above the 1.0900 yardstick on turnaround Tuesday.
EUR/USD looks at data, USD
EUR/USD so far reverses two consecutive daily pullbacks and manages to advance to the area beyond 1.0900 the figure on the back of some corrective weakness in the greenback and the marked rebound in the risk complex.
Also collaborating with the bounce in the pair emerges another positive performance of the German 10-year Bund yields, which approach the 2.30% region and add to Thursday’s gains.
In the meantime, investors continue to gauge a most likely 25 bps rate hike by both the ECB and the Federal Reserve. The likeliness of a move on rates on the latter has gathered pace following the solid US jobs report published on Friday.
Closer to home, the Investor Confidence tracked by the Sentix Index in the broader Euroland improved to -8.7 in April, while Retail Sales in the region are due later.
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