Euro: Moves with yields and energy prices against US Dollar – Danske Bank
The post Euro: Moves with yields and energy prices against US Dollar – Danske Bank appeared on BitcoinEthereumNews.com. Danske Research Team notes that EUR/USD ended last week around 1.1650 after a sharp drop in Oil prices, with US and Euro area yields both moving lower. They highlight upcoming United States (US) ISM Manufacturing Purchasing Managers’ Index (PMI), labor data and the Euro area HICP as key drivers. Euro area unemployment and PMI figures are expected to confirm a still-soft but stable recovery. Labor data and oil-driven swings “EUR/USD ended the week around 1.1650 following the big drop in oil prices. US interest rates fell back last week with the 10Y Treasury yield falling to 4.43% down more than 20bp from the top in mid-May. The impact on EUR/USD FX swaps was limited as interest rates in the euro area also fell.” “In the euro area, May flash inflation data from Germany, France, Italy and Spain (around 75% of the aggregate print) showed headline inflation rising mainly o