Intra-Day Market Moving News and Views
15 Feb 2018 05:00GMT
EUR/USD - 1.2456.. Euro stand tall in relatively subdued Asian trading after yesterday's wild swings n subsequent impressive rally from 1.2276 to as high as 1.2465 in volatile post-U.S. CPI trading in New York session. Although intra-day pullback after rising marginally higher to 1.2473 due to renewed broad-based yen's strength suggests minor consolidation is in store ahead of European open, as said yesterday's rally signals euro's correction from Jan's 3-year peak at 1.2538 is over, euro bulls are determined to re-test this major res level.
Therefore, buying the single ccy on dips is the way to go and bids are noted at 1.2450-40 and more below with stops reported below 1.2400.
Offers are tipped at 1.2475 n more above with stops above 1.2500.
Eco. release from the euro area countries will start off with France's unemployment, Italy's trade balance n the same from the EU. Several ECB members n European official will be speaking today, please refer to our EI page for details.
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