Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 16 May 2019 03:00GMT

EUR/USD - 1.1208.. Euro moves narrowly in subdued Asian morning after yesterday's rebound from 1.1178 to 1.1225 following news of Trump's auto-tariffs delay, however, as price later retreated to 1.1198 in New York afternoon, Asian traders are on the sidelined and would wait for reaction from their European counterparts later. 

Despite the decline from this week's high at 1.1265 (Monday) to 1.1178 yesterday, subsequent bounce to 1.1225 suggests euro is likely to 'gyrate' inside recent 1.1265-1.1135 broad range and near term upside remains for another rise towards upper indicated level later today.
Bids are noted at 1.1200-1.1390 and more below with stops reported below 1.1175 and then below 1.1160. 
Offers are tipped at 1.1220/25 with stops above 1.1250, then more are reported above 1.1270. 

The euro area countries will release a slew of eco. data (pls refer to EI page for details). Today is the meeting of euro zone FinMins in Brussels n many key ECB officials will be participate in this event as well as making speeches, pay attention to speech by ECB Chief Economist Praet at at 07:30GMT n also comments by ECB President Draghi who will participate in the Eurogroup meeting. 

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