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Intra-Day Market Moving News & Views GBP/USD

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Intra-Day Market Moving New and Views

02 Sep 2014
   08:32GMT

GBP/USD - .... Cable has stabilised after intra-day sell off from 1.6605 (Asia) to as low as 1.6554 in European morning due initially dlr's strength at Asian open, then broad-based selling of sterling vs euro & yen.

The fact that price is unable to stage a short-covering rebound after release of a much stronger-than-expected U.K. construction PMI (Aug actual came in at 64.0 vs forecast of 61.4 & prev. reading of 62.4) suggests the no. of sterling bears is greater than the bulls. Looks like sterling bears are targeting stops below last Mon's 4-1/2 month low at 1.6535. For now, offers are tipped at 1.6585/95 n more abv with stop touted abv 1.6615. A mixture of bids n stops is reported near 1.6535-30, suggesting selling cable on recovery is the way to go.

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Intra-Day Market Moving News and Views EUR/USD

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Intra-Day Market Moving New and Views

02 Sep 2014
01:49GMT

EUR/USD - .... Despite gaining a fleeting moment of respite in subdued North American session as markets in U.S. & Canada were closed for Labor Day holiday, euro bears returned shortly after Asian open as a surprise rally in the Nikkei led to intra-day rally in dlr/yen, this in turn triggered broad-based rise in the greenback.

The single currency fell from 1.3133 to a fresh near 1-year bottom of 1.3117 after penetrating Mon's 1.3119 low. The lack of a recovery suggests euro bears would test daily chart obj. 1.3105, at present, some buying interest n stops are touted above 1.3105 n below 1.3100 respectively. Offers have been lowered to 1.3130/40 with stops above 1.3150, therefore, selling euro on recovery is the way to go.

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Intra-Day Market Moving News and Views EUR/USD

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Intra-Day Market Moving New and Views EUR/USD

01 Sep 2014 07:55GMT

EUR/USD - ..... Germany manufacturing grows at its slowest rate in 11 mths. The PMI figure came in weaker-than-expected at 51.4 vs forecast of 52.0.

Italy manufacturing slips back into contraction in August with the PMI read coming in at 49.8, lower than expectation of 50.8.

Euro pares intra-day losses in early European trading after hitting a fresh near 1-year low of 1.3119. Although range trading is seen ahead of release of a slew of EZ eco. data, offers at 1.3140/50 are likely to check present rebound. On the downside, a mixture of bids n stops is reported at 1.3105/00, therefore, steep fall may is unlikely be seen n trading may quieten down after European midday as markets in U.S. & Canada are closed for Labor Day holiday today.

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Intra-Day Market Moving News and Views EUR/USD: Sept 1, 2014

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Intra-Day Market Moving New and Views EUR/USD

01 Sep 2014
02:22GMT

EUR/USD - .... 2 pieces of euro bearish news on Reuters worth noting which had caused the single currency to open lower in NZ today.

ECB executive board member Benoit Coeure said in an essay published in Greek newspaper Ta Nea on Sat the ECB is ready to adjust its monetary policy further if needed and boost bank liquidity. Coeure said the ECB's measures so far have contributed to stability in the euro zone while its recent decisions have ensured a particularly accommodative direction in monetary policy in the single-currency bloc.

He then said "The ECB will provide additional liquidity to banks on the condition that they increase credit directed to the real economy, n it is ready to further adjust the direction of its monetary policy, if needed."

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