- The US dollar gains momentum across the board during US hours; DXY gains 0.12%.
- Wall Street stock prices are mostly trading in positive territory.
- EUR / USD breaks out of range, but remains sideways.
The EUR/USD it weakened after the start of the US session and fell to 1.1288, reaching its lowest level in six days. Over the past hour, it cut losses and returned above 1.1300.
Stocks rise, US yields fall but move away from lows
On Wall Street, stocks are mostly trading higher amid optimism about Omicron’s impact following new announcements from the Centers for Disease Control regarding isolation guidelines. The Dow Jones is up 0.44% and the S&P 500 is up 0.11%. The 10-year yield stands at 1.46%, modestly lower on the day. The recovery of the US dollar was helped by US yields, which moved away from lows during the US session.
Economic data released Tuesday showed the FHFA home price index rose 1.1% in October, while the S&P CoreLogic / Case-Shiller index rose 18.4% from a year earlier in October (down from 19.1% in October. September).
EUR / USD remains lateralized
Despite hitting six-day lows, the EUR / USD continues to move sideways with no clear direction. A consolidation below 1.1290 should expose the next support level at 1.1260. While bullish, the euro needs to break the 1.1350 / 60 barrier to clear the way for further gains.
Technical levels
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