Intra-day Market Moving News and Views
17 Dec 2015 02:00GMT
EUR/USD - ...... The single currency briefly spiked down to 1.0888 after the Fed hiked its interest rate by 25 bps before rallying to intra-day high at 1.1013 on comments from Yellen during her press conference.
However, renewed selling there sent the pair lower and euro tumbled to 1.0866 ahead of Asian open, then lower to 1.0854 in Asian morning.
Price continues to remain under pressure and edge lower steadily.
Pay attention to the release of IFO expectations and business climate at 09:00GMT.
Street forecasts are 105.0 and 109.0 vs previous readings of 104.7 and 109.0 respectively.
Offers are now lowered to 1.0880/90 and more above at 1.0910/20 with stops building up above there whilst initial bids are seen at 1.0800/10, suggesting selling on pullback is the way to go.
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