Intra-Day news and views and data to be released today – EUR/USD
|Intra-Day market moving news and views
Update Time: 01 Dec 2021 05:30GMT.
EUR/USD - 1.1320.. Euro is trading in the middle of Tuesday's wild range in relatively subdued Asian morning on Wednesday after a roller-coaster Tuesday's session. Although price extended recent upmove to an 11-day high of 1.1382 on broad-based USD's weakness, price tanked briefly but sharply to as low as 1.1236 following Fed Powell's hawkish comments.
Although euro's rally back to 1.1342 in Australia suggests choppy sideways swings are in store, we're taking the view said fall from 1.1382 signals correction from November's fresh 16-month bottom at 1.1187 has ended, therefore, consolidation with downside bias is envisaged but below 1.1259/61 needed for re-test of 1.1236.
Order board is fairly light on the first trading day in December with some offers tipped at 1.1340/50 with stops above 1.1385 while some bids are noted at 1.1300-1.1290 with some stops touted below 1.1255.
Today is PMI day in the euro area countries. Pay attention to German retail sales, then German and EU's Markit mfg PMIs.
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