Euro outperformers its G10 rivals on Monday, EUR/GBP near weekly highs.
US Dollar losses momentum DXY drops to five-day lows.
EUR/USD looking again at the 1.0700 area.
The EUR/USD is up on Monday, moving toward last week's high and with 1.0700 again on the radar. A stronger Euro across the board has been supportive of the pair, while at the same time, the US Dollar weakened. EUR/GBP is back above 0.8800.
Stocks up, Treasury yields down
The Euro is outperforming on Monday among the G10 space despite lower-than-expected economic data. The Eurozone (EZ) Sentiment Investor Confidence index dropped in March to -11.1, against expectations of a slide to -8.6. EZ Retail Sales rose 0.3% in February, below the 1% increase expected of market consensus; on the positive, January’s -2.7% was revised to -1.6%.
In the US, Factory Orders in January fell by 1.6%, less than the decline expected of 1.8%. The Greenback rose marginally immediately after the report and then retreated.
Equity prices are up on Wall Street, with the Dow Jones gaining 0.42% and the Nasdaq 0.98%. At the same time, US yields are flat for the day. The improvement in market sentiment weighs on the US Dollar.
Market participants await key events ahead for the week that includes comments from Fer Chair Jerome Powell on Tuesday, and the NFP report on Friday.
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