Intra-Day Market Moving News and Views EUR/USD
|Intra-Day Market Moving News and Views
15 Feb 2017 02:05GMT
EUR/USD - Euro is nursing losses after yesterday's resumption of recent decline to a 4-week trough of 1.0561 after Fed Yellen's hawkish testimony before the U.S. Congress.
Although short-term specs made another attempt to know the pair lower at Asian open, buying interest (probably profit taking bids) at 1.0565 contained weakness, suggesting euro would move sideways before prospect of further weakness later in the day, so selling the pair on recovery is the way to go.
Offers are tipped at 1.0580/90 with some stops above 1.0600, however, more selling interest is reported at 1.0625/35.
On the downside, initial bids are noted at 1.0565-60 with some stops below 1.05550.
Euro area economic calendar is very light with EU trade balance being the only data in European morning, so traders will pay more attention to U.S. inflation data and retails sales at 13:30GMT.
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