EUR / USD marks highs at 1.2111 but then returns below 1.2100

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  • The dollar marks a low but then rebounds as US yields rise.
  • Ahead: ECB officials and US data with ADP and non-manufacturing ISM.

The EUR / USD rose to 1.2111, reaching the highest level since Friday, but then retraced and is trading at 1.2085, on neutral ground for the day. The pair failed to hold on to gains and returned what it had advanced, previously a rally in the dollar.

In the market, Wall Street futures points upwards and in the forex most crosses, in line with what the EUR / USD is doing, move in ranges, in a lateral direction without showing great changes compared to Tuesday’s close. . The US 10-year rate is testing the 1.45% zone.

At the same time, the yields on European securities are also rising. The Bloomberg agency indicated that the European Central Bank does not believe that dramatic measures must be applied to stop what is happening.

Regarding data, the PMI report for the services sector (final reading) in Germany and the Eurozone showed mixed results, although both still remain in contraction territory (less than 50). In another report, it was learned that the producer price index in the Eurozone rose 1.4% in January. Later in the session, ECB officials Panetta, De Guindos and Schanbel will speak.

In the US the attention will go through the report of ADP private employment and the ISM non-manufacturing report. Regarding the central bank, Fed officials Harker, Bostic and Evans spoke.

Technical levels

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