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Credit Agricole warned that EUR/USD downside risks seem high as the pair turned down from overbought levels ahead of the June ECB meeting. The pair fell about 250 pips from a recent high of 1.1268 to 1.109.
Profit-taking in euro longs strengthens the dollar, which can pressure dollar-priced commodities and make US exports less competitive in the short term.
exchangerates.org.ukJames ElliotMay 30, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
