Intra-Day Market Moving News and Views
23 Apr 2015 06:01GMT
EUR/USD - ...... Although Gfk said that its index of Germany's consumer climate rose to the highest in 13.5 years at 10.1 in May, euro showed muted reaction to the data as it missed the median forecast of economist at 10.2. Earlier, cross-selling in euro pressured the EUR/USD pair below 1.0700 level to 1.0691 in Asia before staging a recovery to 1.0718.
Investors are now awaiting the release of Markit PMIs for France, Germany and euro zone for more clues on the economic condition in euro zone area.
At the moment, offers are tipped at 1.0720-30, 1.0740/45 and then around 1.0750 with stops located just above 1.0760.
On the downside, bids are touted at 1.0685/80, 1.0670-60 and then 1.0640/30 with stops emerging just below 1.0620.
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Editors’ Picks
EUR/USD holds above 1.0700 after US data
EUR/USD struggles to build on Wednesday's gains and fluctuates in a tight channel near 1.0700 on Thursday. The data from the US showed that weekly Jobless Claims held steady at 208,000, helping the USD hold its ground and limiting the pair's upside.
GBP/USD fluctuates above 1.2500 following Wednesday's rebound
GBP/USD stays in a consolidation phase slightly above 1.2500 on Thursday after closing in the green on Wednesday. A mixed market mood caps the GBP/USD upside after Unit Labor Costs and weekly Jobless Claims data from the US.
Gold retreats to $2,300 despite falling US yields
Gold stays under bearish pressure and trades deep in negative territory at around $2,300 on Thursday. The benchmark 10-year US Treasury bond edges lower following the Fed's policy decisions but XAU/USD struggles to find a foothold.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.