Intra-Day Market Moving News and Views
15 Feb 2017 02:05GMT
EUR/USD - Euro is nursing losses after yesterday's resumption of recent decline to a 4-week trough of 1.0561 after Fed Yellen's hawkish testimony before the U.S. Congress.
Although short-term specs made another attempt to know the pair lower at Asian open, buying interest (probably profit taking bids) at 1.0565 contained weakness, suggesting euro would move sideways before prospect of further weakness later in the day, so selling the pair on recovery is the way to go.
Offers are tipped at 1.0580/90 with some stops above 1.0600, however, more selling interest is reported at 1.0625/35.
On the downside, initial bids are noted at 1.0565-60 with some stops below 1.05550.
Euro area economic calendar is very light with EU trade balance being the only data in European morning, so traders will pay more attention to U.S. inflation data and retails sales at 13:30GMT.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD alternates gains with losses near 1.0720 post-US PCE
The bullish tone in the Greenback motivates EUR/USD to maintain its daily range in the low 1.070s in the wake of firmer-than-estimated US inflation data measured by the PCE.
GBP/USD consolidates above 1.2500, eyes on US PCE data
GBP/USD fluctuates at around 1.2500 in the European session on Friday following the three-day rebound. The PCE inflation data for March will be watched closely by market participants later in the day.
Gold clings to modest daily gains at around $2,350
Gold stays in positive territory at around $2,350 after closing in positive territory on Thursday. The benchmark 10-year US Treasury bond yield edges lower ahead of US PCE Price Index data, allowing XAU/USD to stretch higher.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.