Intra-Day Market Moving News and Views
05 Aug 2014 08:19GMT
EUR/USD - .... Despite a brief rise to 1.3425 ahead of European open, the single currency retreated sharply n penetrated Mon's NY sup at 1.3410 to 1.3402 after release of mixed service PMIs from EZ and its members before stabilizing.
Markit's PMI for euro zone's service industry leapt to 54.2 from June's 52.8, although was down from a flash reading of 54.4.
Offers are noted at 1.3420-30 n around 1.3440/45 with stops emerging above 1.3450, whilst bids are placed at 1.3390/80 n then 1.3370 with stops emerging just below last Wed's 8-1/2 month trough at 1.3366.
Italy services PMI came in weaker-than-expected at 52.8 vs forecast of 54.0 whilst France services PMI came in as expected at 50.4.
AUD/USD - ...Earlier RBA as widely expected, keeps its benchmark rate unchanged at 2.5%. The aussie briefly dipped to intra-day low of 0.9316 after the announcement.
Statements from RBA, quote :
RBA "repeats prudent course likely to be period of stability for rates";
says inflation to be consistent with target;
"strong expansion in housing construction";
"$A high by historical standards";
"expects below trend growth in year ahead";
"sees signs of improvement in labour mkt this year";
"$A offering less help to economy than it might in achieving balanced growth";
"home prices still rising but at slower pace than last year"
"sees wage growth modest over the period ahead".
05 Aug 2014 08:19GMT
EUR/USD - .... Despite a brief rise to 1.3425 ahead of European open, the single currency retreated sharply n penetrated Mon's NY sup at 1.3410 to 1.3402 after release of mixed service PMIs from EZ and its members before stabilizing.
Markit's PMI for euro zone's service industry leapt to 54.2 from June's 52.8, although was down from a flash reading of 54.4.
Offers are noted at 1.3420-30 n around 1.3440/45 with stops emerging above 1.3450, whilst bids are placed at 1.3390/80 n then 1.3370 with stops emerging just below last Wed's 8-1/2 month trough at 1.3366.
Italy services PMI came in weaker-than-expected at 52.8 vs forecast of 54.0 whilst France services PMI came in as expected at 50.4.
AUD/USD - ...Earlier RBA as widely expected, keeps its benchmark rate unchanged at 2.5%. The aussie briefly dipped to intra-day low of 0.9316 after the announcement.
Statements from RBA, quote :
RBA "repeats prudent course likely to be period of stability for rates";
says inflation to be consistent with target;
"strong expansion in housing construction";
"$A high by historical standards";
"expects below trend growth in year ahead";
"sees signs of improvement in labour mkt this year";
"$A offering less help to economy than it might in achieving balanced growth";
"home prices still rising but at slower pace than last year"
"sees wage growth modest over the period ahead".
Recommended Content
Editors’ Picks
EUR/USD retreats toward 1.0850 on modest USD recovery
EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.
GBP/USD holds above 1.2650 following earlier decline
GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.
Gold climbs to multi-week highs above $2,400
Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.
Chainlink social dominance hits six-month peak as LINK extends gains
-637336005550289133_XtraSmall.jpg)
Chainlink (LINK) social dominance increased sharply on Friday, exceeding levels seen in the past six months, along with the token’s price rally that started on Wednesday.
Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.