Intra-Day Market Moving New and Views EUR/USD
01 Sep 2014 02:22GMT
EUR/USD - .... 2 pieces of euro bearish news on Reuters worth noting which had caused the single currency to open lower in NZ today.
ECB executive board member Benoit Coeure said in an essay published in Greek newspaper Ta Nea on Sat the ECB is ready to adjust its monetary policy further if needed and boost bank liquidity. Coeure said the ECB's measures so far have contributed to stability in the euro zone while its recent decisions have ensured a particularly accommodative direction in monetary policy in the single-currency bloc.
He then said "The ECB will provide additional liquidity to banks on the condition that they increase credit directed to the real economy, n it is ready to further adjust the direction of its monetary policy, if needed."
French PM Manuel Valls reiterated on Sun calls for the ECB to go "further" in tackling the problem of an overvalued euro. Speaking at a Socialist party gathering in La Rochelle, Valls said the ECB's June decision to cut interest rates was a "strong signal" but more was needed.
Euro trades at intra-day fresh near 1-year trough of 1.3122 after opening lower below Fri's 1.3132 low on weekend euro bearish news.
However, selling was not particularly heavy on this Asian Mon morning as markets in U.S. are closed for Labor Day holiday (Canada is also closed too).
Offers are noted at 1.3135/40 n more abv with stops reported abv 1.3200. Some bids are touted at 1.3110-00 with stops below there, suggesting selling euro on recovery is the way to go.
01 Sep 2014 02:22GMT
EUR/USD - .... 2 pieces of euro bearish news on Reuters worth noting which had caused the single currency to open lower in NZ today.
ECB executive board member Benoit Coeure said in an essay published in Greek newspaper Ta Nea on Sat the ECB is ready to adjust its monetary policy further if needed and boost bank liquidity. Coeure said the ECB's measures so far have contributed to stability in the euro zone while its recent decisions have ensured a particularly accommodative direction in monetary policy in the single-currency bloc.
He then said "The ECB will provide additional liquidity to banks on the condition that they increase credit directed to the real economy, n it is ready to further adjust the direction of its monetary policy, if needed."
French PM Manuel Valls reiterated on Sun calls for the ECB to go "further" in tackling the problem of an overvalued euro. Speaking at a Socialist party gathering in La Rochelle, Valls said the ECB's June decision to cut interest rates was a "strong signal" but more was needed.
Euro trades at intra-day fresh near 1-year trough of 1.3122 after opening lower below Fri's 1.3132 low on weekend euro bearish news.
However, selling was not particularly heavy on this Asian Mon morning as markets in U.S. are closed for Labor Day holiday (Canada is also closed too).
Offers are noted at 1.3135/40 n more abv with stops reported abv 1.3200. Some bids are touted at 1.3110-00 with stops below there, suggesting selling euro on recovery is the way to go.
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