Intra-Day Market Moving News (EUR/USD)
07 Jul 2015 02:15GMT
EUR/USD -...... Euro went through a roller-coaster session on Monday.
After a gap-down open to 1.0969 in NZ following the rejection of international bailout proposals by the Greek people, price quickly rebounded and rose to session high of 1.1096 in European morning on news of resignation of Greece's FinMin Yanis Varoufakis.
Renewed selling swiftly emerged and knocked price to 1.1002 at NY open but tepid U.S. eco. data helped price to climb back to 1.1091 before retreating again in NY afternoon.
Today, headlines of Greek debt would continue to dominate the market as EU president Donald Tusk has called for an emergency summit in Brussels (16:00GMT) to discuss situation after Greece's referendum.
Before the summit, Eurogroup will also hold a meeting to "discuss the state of play".
Today range trading inside 1.1000-1.1100 is likely to be seen in Asia and trading euro from both sides of the market is recommended.
At present, bids are noted in 1.1030-10 region with stops below 1.1000 whilst some offers are tipped at 1.1080-90 and more above with stop touted above 1.1125.
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