Intra-Day Market Moving New and Views
30 Sep 2014 01:46GMT
EUR/USD - ...... Euro trades narrowly with a downside bias on the last trading day of the month (also end of Q3) in Asia after staging a short-covering rebound from Monday's fresh 22-month low of 1.2664 to 1.2715 shortly after NY open.
However, renewed selling quickly emerged and pushed price lower to 1.2678 but another round of buying returned and lifted euro to 1.2712 ahead of European close but euro later drifted lower in NY afternoon after failure to absorb offers at 1.2710/15.
The single currency touched an intra-day low of 1.2681 in Asia and range trading with a soft bias is seen ahead of release of a slew of euro area eco. data later starting with Germany's retail sales at 06:00GMT, then German unemployment at 07:55GMT followed by Italy's unemployment at 08:00GMT. At 09:00GMT, EZ will release the key inflation & unemployment data, Italy will release CPI & PPI data.
Offers are reported at 1.2705/15 with stops above 1.2730. Initial bids are noted at 1.2880-70 with a mixture of buying interest n stops touted at 1.2665-60.
Data to be released on Tuesday:
Japan unemployment, household spending, industrial output, retail sales, New Zealand RBNZ business outlook, China manufacturing PMI, Germany retail sales, unemployment, UK consumer confidence, house prices, GDP, France producer prices, Swiss KOF indicator, Italy unemployment, CPI, EU inflation, Canada GDP, producer prices, U.S. redbook retail sales, caseshiller house prices, Chicago PMI and consumer confidence.
Recommended Content
Editors’ Picks
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.
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.
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.
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.
The other terminal rate: How far will policy rates be cut?
Recent communication by the Federal Reserve and the ECB has made it clear that the first cut in official interest rates is coming. Both central banks are saying the same but the ECB communication is more opaque than that of the Fed.