April 27th, European session

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In trading in Europe, major currencies are trading in the red, except for the British pound. Euro unsuccessfully started trading in the European session. The rate declined to 1.2057 amid a decline in the EUR / GBP cross pair, a general strengthening of the dollar and an increase in the yield on 10-year Treasury bonds. The bond yield rose to 1.58%.

Following the release of UK retail sales data, the pound and euro rebounded from their intraday lows. The Briton has risen in price against the dollar to 1.3917, the euro - to 1.2093.

According to the Confederation of British Industrialists (CBI), retail sales in the UK in April rose to 20% against the forecast of -5% and the previous value of -45%. UK retailers reported the sharpest increase in sales since 2018 as stores were allowed to open on April 12.

The EUR / USD pair is trading at 1.2080 (daily high at 1.2093). The technical picture at the hourly timeframe is still favorable for growth. The growth of quotations is restrained by the upcoming meeting of the FOMC, as well as by the growth in the yield of treasury bonds. The target for the euro bulls remains at 1.2100 / 1.2115.

Posted Using LeoFinance Beta



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