Intra-Day Market Moving New and Views EUR/USD, USD/JPY
21 Jul 2014 02:32GMT
EUR/USD - ... The single currency continued to edge higher after a brief sell off to a fresh 5-month low of 1.3491 last Fri due to short covering. Price rose above Fri's NY afternoon high of 1.3531 to 1.3534.
Although euro may move higher ahead of European open on broad-based weakness in greenback in Asia, price is expected to remain under pressure later today after Bank of Italy cut its growth forecast for 2014 last Fri n softness in euro's crosses vs jpy n stg.
Germany will release its PPI for Jun at 06:00GMT with forecasts of 0.0% m/m n -0.7% y/y vs previous readings of -0.2% n -0.8%. Later, Italy will release industrial orders n industrial sales for May at 08:00GMT.
At the moment, offers are noted at 1.3540-50 n then 1.3560/65 with mixture of offers n stops located at 1.3580-90. On the downside, bids are placed at 1.3510-00 n around 1.3490 with stops emerging further out below 1.3470.
21 Jul 2014 02:17GMT
USD/JPY - ... The greenback traded with a soft bias in Asia this morning n moved lower from Australian high of 101.37 to 101.27 in part due to cross-buying in yen vs other CCYs as risk aversion remained after the shooting down of a Malaysia Airlines jet in eastern Ukraine last Fri.
Today, expect range trading with mild downside bias until European open as market is thin in Asia due to national holiday in Japan. There are no major economic data release from U.S. and therefore, fund flow should be the main drive for this pair's direction.
At the moment, offers are noted at 101.35/40 and then 101.55/60 with stops emerging above last Wed's high of 101.79, whilst bids are noted at 101.15/10 and around 101.00 with mixture of bids and stops located at 101.80 and just below 2014 bottom at 100.76 (Feb).
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.