Intra-Day Market Moving News and Views
24 Mar 2015 08:01GMT
EUR/USD - ..... Despite a brief retreat from 1.0953 to 1.0943, renewed buying emerged above Asian sup at 1.0904 n lifted price from 1.0907 to 1.0964 in European morning.
At the moment, stops locating just above yesterday's high of 1.0972 are now in focus, however, more selling interest from various accounts are placed at 1.0990-00, 1.0915/20 and then 1.0930-40.
On the downside, bids are various accounts are building up from 1.0930 down to 1.0900 with mixture of bids and stops emerging below 1.0880.
Earlier Reuters reported Greece will present its proposed package of reforms to its euro zone partners by next Mon in hopes they will release much needed cash, its gov’t spokesman said on Tuesday "It will be done at the latest by Mon," gov’t spokesman told Mega TV.
Greek PM Alexis Tsipras met with German Chancellor Angela Merkel in Berlin on Monday but it was unclear if they had narrowed differences on economic reforms Athens must implement to win urgently to get fresh aid fm its creditors.
Sakellaridis said the package of reforms Athens will propose will not contain recessionary measures but structural changes. He said Tsipras and Merkel on Mon discussed the outline of the reforms but did not go into depth. "I believe points of convergence were found," Sakellaridis said.
Recommended Content
Editors’ Picks
EUR/USD retreats below 1.0700 as USD rebounds
EUR/USD lost its traction and retreated slightly below 1.0700 in the American session, erasing its daily gains in the process. Following a bearish opening, the US Dollar holds its ground and limits the pair's upside ahead of the Fed policy meeting later this week.
USD/JPY recovers toward 157.00 following suspected intervention
USD/JPY recovers ground and trades above 156.50 after sliding to 154.50 on what seemed like a Japanese FX intervention. Later this week, the Federal Reserve's policy decisions and US employment data could trigger the next big action.
Gold holds steady above $2,330 to start the week
Gold fluctuates in a relatively tight channel above $2,330 on Monday. The benchmark 10-year US Treasury bond yield corrects lower and helps XAU/USD limit its losses ahead of this week's key Fed policy meeting.
Week Ahead: Bitcoin could surprise investors this week Premium
Two main macroeconomic events this week could attempt to sway the crypto markets. Bitcoin (BTC), which showed strength last week, has slipped into a short-term consolidation.
Five Fundamentals for the week: Fed fears, Nonfarm Payrolls, Middle East promise an explosive week Premium
Higher inflation is set to push Fed Chair Powell and his colleagues to a hawkish decision. Nonfarm Payrolls are set to rock markets, but the ISM Services PMI released immediately afterward could steal the show.