{"id":120665,"date":"2018-01-31T07:35:50","date_gmt":"2018-01-31T12:35:50","guid":{"rendered":"http:\/\/countingpips.com\/?p=120665"},"modified":"2018-06-01T15:43:47","modified_gmt":"2018-06-01T15:43:47","slug":"eurusd-dollar-declining-along-with-us10y","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/eurusd-dollar-declining-along-with-us10y\/","title":{"rendered":"EURUSD: dollar declining along with US10Y"},"content":{"rendered":"
January 31, 2018<\/div>
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By Gabriel Ojimadu, Alpari<\/strong><\/p>\n

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Previous:<\/strong><\/p>\n

On Wednesday the 31st<\/sup>\u00a0of January, trading on the euro\/dollar pair closed slightly up, leaving both a long wick and a long tail on the candlestick. The euro initially dropped to 1.2337 at the beginning of the European session. Prices then recovered from there to 1.2453 (+116 pips) on the back of declining US bond yields.<\/p>\n

After consumer confidence data for the US was published as well as US Finance Minister Mnuchin\u2019s comments, US 10Y bond yields hit a three-year high. Mnuchin said that a strong dollar was in the US\u2019s long-term interest. The dollar rose along behind US bond yields in response.<\/p>\n

US 10Y bond yields grew from 2.683% to 2.735%. The euro corrected from 1.2453 to 1.2384 (-69 pips).<\/p>\n

The US consumer confidence index came out at 125.4 (forecast: 123.1, previous reading revised from 122.1 to 123.1).<\/p>\n

Day\u2019s news (GMT+3):<\/strong><\/p>

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