Intra-Day News and Views: EUR/USD
|Intra-Day Market Moving News and Views
Update Time: 20 Aug 2019 03:00GMT
EUR/USD - 1.1087.. Euro recovers in quiet Asian morning after Monday's attempt to trade above the 1.1100 handle failed as the greenback regained traction in New York afternoon session following Boston Fed Rosengren's hawkish comments (see previous update).
Although the pair moved narrowly in subdued Asian morning on Monday and then climbed to 1.1113 at London midday due to cross-buying in euro vs yen, gbp and chf, price later fell to session lows of 1.1077 on intra-day broad-based usd's gain.
As yesterday's fall from 1.1113 to 1.1077 suggest correction from Friday's 2-week trough at 1.1067 has ended, recent decline would resume later today after choppy consolidation is over.
Offers are tipped at 1.1100/10 with stops above 1.1130 and bids are noted at 1.1080-70 with stops reported below 1.1060.
Pay attention to latest political situation in Italy later today where PM Conte will address the Senate over the political crisis sweeping the government after his coalition partner the far-right League filed a no-confidence motion in the administration. On the data front, the EU will release Apr construction output at 09:00GMT.
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