Intra-Day Market Moving News and Views
19 Aug 2014 07:23GMT
EUR/USD - .... News from Reuters, citing source fm the Kremlin, who says 'Russia is working on additional retaliatory measures in case western nations impose new sanctions.'
While the single currency weakened shortly after European open due to renewed broad-based buying in greenback n active cross-selling in euro vs jpy n stg. Price penetrated y'day's NY low at 1.3353 to 1.3343/44.
At present, offers are lowered to 1.3355/60 n then 1.3370-80 with stops emerging abv 1.3400. On the downside, bids are noted at 1.3335/30 n around 1.3320 with stops located just below 1.3300.
Earlier on the Asian opening, the single currency remained under pressure in Asia following yesterday's weakness due to broad-based strength in dlr in NY session after upbeat U.S. homebuilder's confidence. Price dropped fm Aust.'s high of 1.3363 to 1.3354 shortly after Asian open n then hovered near y'day's NY low at 1.3553.
Despite the near 2-week broad sideways move inside 1.3333-1.3433 range, traders are still favouring to sell the euro on intra-day rally due to ongoing expectations that monetary stimulus programs in the U.S. will wind down n the ECB will take steps to loosen policy. Offers are noted at 1.3370-80 n then 1.3400 with mixture of offers n stops located abv 1.3430. Bids fm st specs are reported at 1.3350/45 n below with stop below 1.3330, however, there has been market chatter of option barrier at 1.3300. No major data are due out except the EZ current account data at 08:00GMT.
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