EUR/USD: Shrugged Off Its Bearish Tone But Is Far From Signaling A Steeper Advance

The dollar edged lower on Thursday, as most market players head into a long Easter weekend. Upbeat US data boosted equities, which in turn sent government bond yields down, adding to dollar shorts. Worth noting that US markets not only will be open Friday, but the country will publish the monthly Nonfarm Payrolls report. On the data front, German Retail Sales were up by 1.2% in February and fell by 9% when compared to a year earlier. The final versions of the March Manufacturing PMIs for the Union were upwardly revised, with that for the EU printing at 62.4. The US published Initial Jobless Claims for the … (full story)

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