Intra-day news and views and data to be released today – EUR/USD
|Intra-day market moving news and views
Update Time: 12 May 2021 05:30GMT
EUR/USD - 1.2131.. The single currency remains on the back foot in Asian morning after intra-day break of NY low at 1.2146 to 1.2132 due to broad-based usd's strength.
Although euro's retreat from Tuesday's fresh 10-week peak of 1.2181 signals recent upmove has made a temporary top and consolidation with near term downside bias is seen, as long as 1.2124 (Tuesday's low in New York) holds, prospect of another rise remains, loss of momentum would limit upside to 1.2210/15.
Bids are noted at 1.2130/25 with stops below 1.2120 n more stops are touted below 1.2100. Offers are tipped at 1.2160/70 and more above with stops above 1.2185.
On the eco. front, the euro area countries will release of inflation plus other data, please refer to our Economic Indicators page for details. ECB member Enria will speak at an economic forum at 08:55GMT.
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