Intra-day Market Moving News and Views
03 Aug 2015 07:37GMT
EUR/USD - ...... Although euro staged a bounce from 1.0966 to 1.0996 shortly after European open, price edged lower to 1.0974 as fall of Greek ATG equity index weighed on demand for the single currency (The Athens General Index is currently down more than 20% on its reopening on Monday after a 5-week closure).
Investors are now awaiting the release of mfg PMI from France, Germany and euro zone at 07:50GMT, 07:55GMT and 08:00GMT respectively.
As mentioned previously, order board is pretty thin with some bids noted 1.0930-1.0920 and stops below there, more stops are touted below 1.0890.
On the upside, offers from various accounts are tipped in 1.1020-30 region and more at 1.1040-50 with stops building up above 1.1080.
Recommended Content
Editors’ Picks
EUR/USD consolidates gains below 1.0700 amid upbeat mood
EUR/USD is consolidating its recovery below 1.0700 in the European session on Thursday. The US Dollar holds its corrective decline amid improving market mood, despite looming Middle East geopolitical risks. Speeches from ECB and Fed officials remain on tap.
GBP/USD clings to moderate gains above 1.2450 on US Dollar weakness
GBP/USD is clinging to recovery gains above 1.2450 in European trading on Thursday. The pair stays supported by a sustained US Dollar weakness alongside the US Treasury bond yields. Risk appetite also underpins the higher-yielding currency pair. ahead of mid-tier US data and Fedspeak.
Gold appears a ‘buy-the-dips’ trade on simmering Israel-Iran tensions
Gold price attempts another run to reclaim $2,400 amid looming geopolitical risks. US Dollar pulls back with Treasury yields despite hawkish Fedspeak, as risk appetite returns.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.