Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
14 Mar 2018 03:20GMT
EUR/USD - 1.2406.. The single currency stands tall in Asian trading following yesterday's rally to 1.2407 triggered by broad-based usd's weakness following the firing of U.S. Sec. of State Tillerson by Trump.
Despite a minor pullback to 1.2384/85 ahead of New York close, buyer emerged and lifted price n euro climbed further to 1.2412 ahead of Tokyo lunch break, suggesting a re-test of last Thurday's 2-1/2 week high at 1.2446 is on the cards, therefore, trading euro from the long side is the way to go.
Bids are noted at 1.2390-80 and more below with some stops below 1.2340.
Offers are tipped at 1.2435/45 with stops reported above 1.2450.
Euro area countries will release a slew of eco. data starting with Germany's final CPI, Italy's retail sales and EU's industrial production and employment.
Today we have many ECB members speaking at "The ECB and Its Watchers XIX" conference organised by the Institute for Monetary and Financial Stability in Frankfurt, Germany plus many other speakers at other venues (refer to our EI page for details), so keep an eye out for many intermittent comments they make during the day as the euro briefly jumped from 1.2332 to 1.2351 at European midday yesterday when ECB's Lane said 'there is no concern about current euro level'.
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