Intra-Day news and views and data to be released today- EUR/USD
|Intra-Day Market Moving News and Views
Update Time: 25 May 2020 04:30GMT
EUR/USD - 1.0894.. Euro swung broadly sideways but with a soft bias after staging a recovery from 1.0886 in New York morning on Friday to 1.0908 ahead of Tokyo open before renewed selling interest emerged in Asian trading and pressured price back to 1.0893.
As the decline from Thursday's near 3-week high at 1.1008 to 1.0886 Friday suggests recent upmove has made a top there, consolidation with downside bias remains for weakness towards 1.0850 later today, so trading the single currency short side is favoured.
Order book is pretty thin on this Monday morning with offers tipped at 1.0905/15 with stop above 1.0920 while some bids are touted at 1.0990/80 (profit taking) with stops below there.
Pay attention to eco. data from Germany during European morning especially the key Ifo data at 08:00GMT, if actual reading is much weaker than street forecast, one can expect another round of euro bashing.
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