Intra-day news and views and data to be released today – EUR/USD
|Intra-day market moving news and views
Update Time: 10 Jun 2021 05:30GMT
EUR/USD - 1.2170.. Euro remains on the back foot in Asian morning after Wed's roller-coaster ride. Despite meeting renewed buying at 1.2172 (AUS) in Australian morning n a brief break of Monday's 1.2201 high to 1.2218 on the back of falling U.S. yields, the single currency then fell on safe-haven USD's buying due to intra-day decline in U.S. stocks.
As yesterday's retreat from 1.2218 suggests near term up move from Friday's 1.2105 trough has made a top n sideways swings are in store as traders are keeping their powder dry ahead of key ECB monetary policy announcement at 11:45GMT, then post-ECB presser by ECB president Lagarde at 12:30GMT as well as the most awaited U.S. eco. data this week, annual CPI. If Lagarde hints at the tapering of QE, euro will jump but if she avoids this topic and shrugs off the recent rise in EU bonds yields n US CPI comes in as per forecast or higher, then the euro will fall.
On the data front, ahead of ECB announcement, we have France's non-farm payrolls, industrial output n the same from Italy.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.