Intra-day Market Moving News and Views
31 Dec 2015 02:23GMT
EUR/USD - ...... Asian traders are likely to remain on the sideline after yesterday's intra-day price swings. Although euro met renewed selling at 1.0944 in Europe and ratcheted lower in volatile fashion to 1.0902 at New York midday, short-covering buying quickly lifted the pair and price climbed back up to 1.0937/38 ahead of New York close.
Looks like near term choppy swings above Tuesday's 1.0899 low would continue, some offers are reported at 1.0940/45 and bids are touted at 1.0900-1.0890 with stops below there.
However, more buying interest is touted at 1.0870-50 area.
Looks like euro would move sideways until New York morning as release of U.S. weekly jobless claims and then Chicago December PMI may give traders something to trade on but most players have closed the books already.
Reuters reported that the vice president of the European Central Bank, Vitor Constancio would preferred its policy to stay unchanged for the foreseeable future, in comments that suggest any extension of quantitative easing is unlikely for now.
In the comments published on the ECB's website on Wednesday, Constancio also defended a recent extension to the ECB's money-printing programme that fell short of market expectations.
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