Intra-Day Market Moving News and Views
23 Dec 2014 02:16GMT
EUR/USD - ....... The single currency met renewed selling interest at 1.2272 on Monday and fell to a fresh 27-month low at 1.2217 new New York close due to dollar's broad-based strength on renewed risk appetite following the rise in global stock markets.
Offers are now tipped at 1.2245-50 and more at 1.2265-70.
On the downside, some bids are located at 1.2220-15 with mixture of bids and stops seen at 1.2200.
Euro is expected to remain under pressure for the rest of this year on speculation the European Central Bank will add stimulus next year as the Federal Reserve prepares to raise interest rates.
In other news, S&P said on Monday that it still sees the first rate hike in June 2015, and says the Fed Funds rate can go as high as 1.25% by 2015 end. This corresponds with the Fed's own projection which had the range of Fed Funds between 1.000 and 1.25% (or 1.125% for the average of the low to high range).
Tuesday will see the release of New Zealand's Trade Balance, Exports and Imports, China's CB Leading Economic Index, France's GDP, Producer Prices, Italy's Retail Sales, U.K.'s BBA Mortgage Approvals, Current Account, GDP, U.S.'s GDP, Personal Consumption, Redbook, Housing Price Index, Reuters/Michigan Consumer Sentiment, New Home Sales, Personal Income, Personal Spending.
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