EUR/USD turns flat as dollar keeps little changed on the day amid tentative mood

The dollar is staying little changed as the overall market mood is tentative

EUR/USD is trading back to flat levels now at 1.1900 after having eased lower to 1.1870 earlier at the start of the session. Of note, price is still keeping just below its 100-hour moving average (red line) @ 1.1911 so sellers are still in near-term control – for now.

EUR/USD H1 10-03

The slight nudge higher is reflective of the dollar keeping little changed across the board with commodity currencies also paring earlier declines to less than 0.1% changed against the greenback currently.

The overall market mood remains tentative as Treasury yields are keeping a little higher and so is US futures for the time being. All eyes will be on the key risk events later in the day i.e. US CPI data and the 10-year Treasury auction.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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