Intra-Day Market Moving News and Views EUR/USD




Intra-Day Market Moving New and Views

EUR/USD -
.. German Econ ministry said 'German economy on track for expansion despite contraction in Q2; geopolitical conflicts are preventing better performance in economy; growth impulse coming mainly from U.S. and Asian emerging markets; overall foreign demand is weaker than previously expected.'

Ukraine's Poroshenko says 'Ukraine regrouping its forces in east not to stage new offensive but to defend territory.'

French FinMin said 'France does not seek change of EU deficit rules but wants weak economic reliability to be taken into account; sees 2015 public deficit of 4.3%, will reach 3% target in 2017.'

ECB's Coeure said 'ECB measures will be much more effective if we see structural reforms and fiscal position appropriate for euro area; TLTROs and measures announced last wk are not a quantitative increase in liquidity, or QE.'

During the Asian opening, the single currency finally staged a near 1-cent rebound from yesterday's fresh near 14-month trough of 1.2860 to 1.2957 in NY afternoon, traders cited the move was broad-based short-covering in euro.

As the magnitude of said Tuesday's rebound from 1.2860 was the largest seen in over a month. looks like euro has finally made a temporary base there, a few days of 'choppy' consolidation is in store. Having said that, intra-day retreat fm 1.2952 in Asia suggests euro bears are not yet beaten and would make further attempts to test the downside side, so trading on both sides of the market is the appropriate strategy today. Offers are tipped at 1.2950-60 with stops abv there, more offers are reported at 1.2980/90. Initial bids are noted at 1.2920-00 area with stops below there, however, there is market chatter of good buying interest at 1.2860-50 area.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD drops below 1.0800 after German Retail Sales data

EUR/USD drops below 1.0800 after German Retail Sales data

EUR/USD has come under fresh selling pressure and trades below 1.0800 after the data from Germany showed that Retail Sales declined by 1.9% MoM in February. Resurgent US Dollar demand is adding to the downside in the pair. US data are next in focus. 

EUR/USD News

GBP/USD stays weak near 1.2600 amid market caution

GBP/USD stays weak near 1.2600 amid market caution

GBP/USD remains defensive near 1.2600 in European trading on Thursday. The hawkish tone from Fed Governor Christopher Waller keeps the US Dollar afloat amid a cautious trading environment ahead of key US data releases and the Good Friday trading lull. 

GBP/USD News

Gold price bulls keenly await US PCE Price Index on Friday before placing fresh bets

Gold price bulls keenly await US PCE Price Index on Friday before placing fresh bets

Gold price (XAU/USD) continues with its struggle to make it through the $2,200 mark on Thursday and oscillates in a narrow trading band through the early part of the European session. 

Gold News

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase. 

Read more

Portfolio rebalancing and reflation trades emerge into Q2

Portfolio rebalancing and reflation trades emerge into Q2

Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.

Read more

Majors

Cryptocurrencies

Signatures