Intra-Day Market Moving News and Views
23 Apr 2015 02:28GMT
EUR/USD - ....... The single currency met renewed selling interest at 1.0729 ahead of Asian open n penetrated NY low (also y'day trough) at t 1.0708 to 1.0693 as concerns over Greece's debt payments continued to dampen demand for the euro.
Whilst intra-day weakness in Asia suggests selling the single currency on recovery is favoured, position traders can look to buy on next decline in anticipation of another rebound twd 1.0800 as Mon's low at 1.0660 is expected to hold ahead of a meeting of eurozone finance ministers on Fri.
Today, investors shud pay attention to a slew of economic data fm EU n its members countries starting at 06:00GMT, theses include Germany's Gfk consumer confidence n Markit service n manf. PMI for France, Germany, Italy n euro zone. At the moment, offers are tipped at 1.0710-20, 1.0735/40 n then around 1.0750 with stops located just abv 1.0760. On the downside, bids are placed at 1.0685/80, 1.0670-60 n then 1.0640/30 with stops emerging just below 1.0620.
Thursday will see the release of China's HSBC manufacturing PMI, German GfK consumer sentiment, Germany's Markit manufacturing and service PMI, eurozone Markit manufacturing and service PMI, U.K. PSNCR and retail sales, U.S. new home sales and KC Fed manufacturing.
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