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UOB analysts said EUR/USD could make sustained gains if it clears resistance at 1.0050, after the euro gained 1.62% on October 4, its largest one-day rise since 2016. They flagged the rally as overbought.
This is routine technical currency commentary with no new fundamental shock. It has little direct effect on feed commodity prices.
teletrade.orgOct 5, 2022Not 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.
Confirms the euro's 1.62% one-day gain on Oct 4, the largest since 2016, which accounts for much of the 5-day move, though it was published on Oct 5.
