Intra-day news and views and data to be released today – EUR/USD
|Intra-day market moving news and views
Update Time: 12 Apr 2021 05:30GMT
EUR/USD - 1.1891... The single currency moves sideways in Asia after last week's impressive rally from 1.1739 (Monday) to as high as 1.1927 on Thursday due to retreat in U.S. Treasury yields which triggered short-covering and then weakened to 1.1868 on Friday before rebounding to 1.1910.
Euro's resumption of up move from March's 4-1/2 month trough at 1.1705 to 1.1927 suggests medium term decline from January's 2-1/2 year peak at 1.2349 has made a temporary bottom and as long as 1.1861 (Thursday's low) holds, consolidation with upside is seen for gain to 1.1947, however, loss of upward momentum is expected to cap price below 1.1960/70 and yield retreat.
Bids are noted at 1.1885-80 with stops below 1.1860 while offers are tipped at 1.1940/45 with more above and stops above 1.1990/00.
On the calendar front, EU will release retail sales at 09:00 GMT, with street forecast at 1.5% MM and -5.4% YY versus prior readings of -5.9% and -6.4% respectively.
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