Intra-Day Market Moving News and Views
05 Aug 2014 08:19GMT
EUR/USD - .... Despite a brief rise to 1.3425 ahead of European open, the single currency retreated sharply n penetrated Mon's NY sup at 1.3410 to 1.3402 after release of mixed service PMIs from EZ and its members before stabilizing.
Markit's PMI for euro zone's service industry leapt to 54.2 from June's 52.8, although was down from a flash reading of 54.4.
Offers are noted at 1.3420-30 n around 1.3440/45 with stops emerging above 1.3450, whilst bids are placed at 1.3390/80 n then 1.3370 with stops emerging just below last Wed's 8-1/2 month trough at 1.3366.
Italy services PMI came in weaker-than-expected at 52.8 vs forecast of 54.0 whilst France services PMI came in as expected at 50.4.
AUD/USD - ...Earlier RBA as widely expected, keeps its benchmark rate unchanged at 2.5%. The aussie briefly dipped to intra-day low of 0.9316 after the announcement.
Statements from RBA, quote :
RBA "repeats prudent course likely to be period of stability for rates";
says inflation to be consistent with target;
"strong expansion in housing construction";
"$A high by historical standards";
"expects below trend growth in year ahead";
"sees signs of improvement in labour mkt this year";
"$A offering less help to economy than it might in achieving balanced growth";
"home prices still rising but at slower pace than last year"
"sees wage growth modest over the period ahead".
05 Aug 2014 08:19GMT
EUR/USD - .... Despite a brief rise to 1.3425 ahead of European open, the single currency retreated sharply n penetrated Mon's NY sup at 1.3410 to 1.3402 after release of mixed service PMIs from EZ and its members before stabilizing.
Markit's PMI for euro zone's service industry leapt to 54.2 from June's 52.8, although was down from a flash reading of 54.4.
Offers are noted at 1.3420-30 n around 1.3440/45 with stops emerging above 1.3450, whilst bids are placed at 1.3390/80 n then 1.3370 with stops emerging just below last Wed's 8-1/2 month trough at 1.3366.
Italy services PMI came in weaker-than-expected at 52.8 vs forecast of 54.0 whilst France services PMI came in as expected at 50.4.
AUD/USD - ...Earlier RBA as widely expected, keeps its benchmark rate unchanged at 2.5%. The aussie briefly dipped to intra-day low of 0.9316 after the announcement.
Statements from RBA, quote :
RBA "repeats prudent course likely to be period of stability for rates";
says inflation to be consistent with target;
"strong expansion in housing construction";
"$A high by historical standards";
"expects below trend growth in year ahead";
"sees signs of improvement in labour mkt this year";
"$A offering less help to economy than it might in achieving balanced growth";
"home prices still rising but at slower pace than last year"
"sees wage growth modest over the period ahead".
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