Intra-Day Market Moving News and Views -EUR/USD
|Intra-Day Market Moving News and Views
12 Dec 2017 03:20GMT
EUR/USD - 1.1769.. Euro remains on the back foot in subdued Asian trading after intra-day retreat from yesterday's high at 1.1812 (New York).
Despite Monday's initial firmness following rebound from Friday's near 3-week low of 1.1730 to 1.1803 in Europe, then marginal gain to 1.1812 in New York morning due to broad-based usd's weakness partly on news of an explosion in Manhattan n falling U.S. yields, renewed buying quickly knocked price lower and euro later retreated to 1.1765 at the close and then 1.1764 in Asia today.
Euro's decline from 1.1812 suggests corrective rebound from 1.1730 has possibly ended and range trading with downside bias is in store.
Offers are tipped at 1.1785/95 and more above with stops reported above 1.1815.
Bids are noted at 1.1765-55 with stops below there, more stops are touted below 1.1730.
On the eco. data front, France will release non-farm payrolls first n then Germany's ZEW economic sentiment and conditions, EU will also release ZEW eco. sentiment.
There is a EU General Affairs Council meeting today n ECB's Draghi will deliver a speech in FFT late in the day at 19:00GMT.
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