Intra-day Market Moving News and Views
22 Jul 2014 08:58 GMT
EUR/USD - .... The single currency met renewed selling interest at 1.3530 in Asian morning n weakened ahead of European open. Intra-day decline accelerated in early European morning n price fell below last Fri's 5-month low at 1.3491 to 1.3480 on broad-based selling of euro. Offers are now seen at 1.3500/05 and more above at 1.3515/20 with stops building up above there whilst initial bids are noted at 1.3460/70, suggesting selling on recovery is favored.
Earlier in the Asian morning opening today saw the single currency moved sideways below yesterday's high of 1.3549 but with a soft bias due to ongoing market sentiments that the ECB has room to loosen policy while the Federal Reserve will continue to wind down stimulus tools this year n hike interest rates in 2015.
There are zero economic data to be released fm EZ today, therefore, euro should closely followed the move with other usd/majors.
Range trading below y'day's high of 1.3549 is likely to continue ahead of European open as market eyes on events unfolding in Ukraine and Gaza whilst stops located just below last Fri's 5-month low at 1.3491 are in focus.
At the moment, offers from various accounts was noted at 1.3535/40 n then 1.3545/50 with mixture of offers n stops located above 1.3570.
On the downside, bids were placed at 1.3515/10 and around 1.3500.
Recommended Content
Editors’ Picks
EUR/USD holds below 1.0750 ahead of key US data
EUR/USD trades in a tight range below 1.0750 in the European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays firm above 156.00 after BoJ Governor Ueda's comments
USD/JPY stays firm above 156.00 after surging above this level on the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.