Intra-day news and views and data to be released today – EUR/USD
|Intra-day market moving news and views
Update Time: 25 Jun 2021 05:30GMT.
EUR/USD - 1.1838. Euro swung broadly sideways in directionless Thursday's session. Despite initial dip to 1.1919, price ratcheted higher in delayed reaction to upbeat German Ifo data to 1.1956 in New York but only to retreat to 1.1921.
Intra-day bounce to 1.1945 in Asia on USD's broad-based pullback suggests further range trading would continue in European morning as traders await release of a slew of U.S. data, in particular, y/y core PCE. As long as this week's high at 1.1969 (Wednesday) holds, consolidation with downside bias remains, below 1.1911 signals correction from last Friday's 9-week trough at 1.1848 has ended n heads back towards 1.1848 whilst above 1.1969 would risk stronger retracement of recent decline to 1.1985/90 but reckon res at 1.2006 should cap upside.
Offers are tipped at 1.1955/65 with stops above 1.1970 while bids are noted at 1.1925/15 with stops below 1.1900.
The euro area countries will release a slew if eco. data, please refer to our EI page for details n pay attention to German Gfk consumer sentiment. There is a European Council meeting today n ECB President Lagarde will participate in the Euro Summit. ECB member de Cos will speak at a conference at 10:30GMT.
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