Intra-Day Market Moving News and Views
07 Jul 2014 08:38GMT
EUR/USD - .. Euro pares intra-day loss in European morning on broad-based short-covering.
Despite early break of Fri's 1.3586 low after tripping stops below 1.3580 at European open, a wave of buying emerged n lifted the single currency. Price continue to move higher n the release of higher-than-expected EZ sentix index which reflects investors' sentiment (Jul came in at 10.1 vs forecast of 8.5) triggered more short-covering in the euro.
Euro zone Sentix index rises to 10.1 in July from 8.5 in Jun.
ECB Governing Council member Ewald Nowotny says 'sees massive under-utilisation of capacity in Europe n US, low interest rates right response; interest rates alone not enough to support economic growth.'
On other news, China Vice FinMin says 'China, U.S. to discuss impact of U.S. monetary policy on the rest of world.'
Earlier, statement from China Premier said, Quote:
1. china Q2 gdp growth improved from q1;
2. chinese society, economy unstable, uncoordinated, unsustainable;
3. chinese economy faces downward pressure;
4. china will not use big stimulus, will step up use of targeted measures;
5. china can meet 2014 GDP target, will further fine-tune policy, help small firms.
07 Jul 2014 08:38GMT
EUR/USD - .. Euro pares intra-day loss in European morning on broad-based short-covering.
Despite early break of Fri's 1.3586 low after tripping stops below 1.3580 at European open, a wave of buying emerged n lifted the single currency. Price continue to move higher n the release of higher-than-expected EZ sentix index which reflects investors' sentiment (Jul came in at 10.1 vs forecast of 8.5) triggered more short-covering in the euro.
Euro zone Sentix index rises to 10.1 in July from 8.5 in Jun.
ECB Governing Council member Ewald Nowotny says 'sees massive under-utilisation of capacity in Europe n US, low interest rates right response; interest rates alone not enough to support economic growth.'
On other news, China Vice FinMin says 'China, U.S. to discuss impact of U.S. monetary policy on the rest of world.'
Earlier, statement from China Premier said, Quote:
1. china Q2 gdp growth improved from q1;
2. chinese society, economy unstable, uncoordinated, unsustainable;
3. chinese economy faces downward pressure;
4. china will not use big stimulus, will step up use of targeted measures;
5. china can meet 2014 GDP target, will further fine-tune policy, help small firms.
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