Intra-Day Market Moving New and Views
17 Sep 2014
EUR/USD - ...... Although euro remained under pressure in Asia and briefly dipped to 1.2945 at European open, renewed broad-based weakness in dlr lifted price to 1.2957.
Investors are reluctant to add bets before the release of euro zone inflation data at 09:00GMT and range trading below yesterday's high of 1.2995 should continue. Bids are touted at 1.2940-30 and around 1.2920 with stops emerging below 1.2900, whilst offers are placed at 1.2975/80 n then 1.2990-00 with stops noted just above 1.3000.
Earlier, the single currency moved in volatile fashion on Tue. Despite initial retreat from Asian high at 1.2962 to 1.2923 in European morning, euro bounced to 1.2967 n then climbed to fresh 1-1/2 week peak at 1.2995 in NY as traders cited WSJ webcast saying Fed will stick to near-zero rate language. Later, euro dropped to 1.2950 in Australia n then marginally to 1.2949 shortly after Asian open on renewed broad-based strength in greenback before moving sideways.
Today, euro zone will release a slew of inflation data and market expects the readings to pick up last month, however, economists are skeptical about how successful the latest measures from ECB will be. Until then, range trading is envisaged.
Bids are placed at 1.2940-30 n around 1.2920 with stops emerging below 1.2900, whilst offers are located at 1.2975/80 n then 1.2990-00 with stops noted just above 1.3000.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of US jobs report
EUR/USD stays in a consolidation phase above 1.0700 after closing the previous two days in positive territory. Investors eagerly await April jobs report from the US, which will include Nonfarm Payrolls and Unemployment Rate readings.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.
Gold remains stuck near $2,300 ahead of US NFP
Gold price struggles to gain any meaningful traction and trades in a tight channel near $2,300. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support to XAU/USD ahead of the key US NFP data.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.