Intra-Day Market Moving News and Views -EUR/USD

AceTrader Team AceTrader

Intra-Day Market Moving News and Views
22 Sept 2017 2:40GMT

EUR/USD - 1.1954. Euro maintains a firm undertone in Asia following yesterday's cable-led rebound to 1.1954 in New York morning. Intra-day decline in usd/yen n usd/chf due to renewed geopolitical tensions on the Korean Peninsular has led to broad-based usd weakness vs the European currencies in Asia, suggesting choppy consolidation with mild upside bias remains ahead of European open.

Bids are noted at 1.1930-20 with stops below 1.1890, more stops are reported below 1.1860.
Offers are tipped at 1.1975/85 and more above with stops above 1.2000.

Today is PMI day in the euro area countries, France will release Markit mfg n services PMIs, then the same from Germany and then the EU.
Pay attention to speeches by a great number of ECB officials including ECB President Draghi (please refer to our EI page for details).

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Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

EUR/USD meets initial support around 1.1800

EUR/USD remains on the back foot, although it has managed to reverse the initial strong pullback toward the 1.1800 region and regain some balance, hovering around the 1.1850 zone as the NA session draws to a close on Tuesday. Moving forward, market participants will now shift their attention to the release of the FOMC Minutes and US hard data on Wednesday.

GBP/USD bounces off lows, retargets 1.3550

After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.

Gold remains offered below $5,000

Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.

RBNZ set to pause interest-rate easing cycle as new Governor Breman faces firm inflation

The Reserve Bank of New Zealand remains on track to maintain the Official Cash Rate at 2.25% after concluding its first monetary policy meeting of this year on Wednesday.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.