Intra-Day Market Moving News and Views
Update Time: 23 May 2019 03:00GMT

EUR/USD - 1.1150.. Euro continues to move in familiar territory in directionless trading yesterday as sterling stole the limelight due to political turmoil in the U.K. and swung wildly in European morning as well as New York session. 

Although euro caught a light bids in European morning n staged a rebound from 1.1148 to session highs of 1.1180 shortly after New York open, intra-day rebound in cable triggered broad based unwinding in short sterling positions n euro retreated to 1.1151 near New York close as eur/gbp cross fell from a fresh 3-month peak of 0.8839 to 0.8791. 

Range trading is expected to continue ahead of European open and as long as this week's low at 1.1142 (Tuesday) holds, choppy trading with mild upside bias remains whilst break of May's 1.1135 trough would shift risk to the downside for re-test of 2019 22-month bottom at 1.1112 (April). 
Bids are noted at 1.1150-1.1140 with stops below 1.1135 and there is market chatter of fairly large stops building up below 1.1100. 
Offers are tipped at 1.1180/90 with stops above 1.1200. 

Today is PMI day in the euro area countries, Germany will kick off with Q1 GDP, then France's bus. climate, Markit mfg and servcies PMIs, pay attention to release of the important Ifo business climate, current conditions n expectations indexes n lastly, EU's mfg and services PMIs. 
 

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.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD drops to mid-1.13s on Bullard's hawkish remarks

St. Louis Fed President Bullard dismissed the idea of a 50 basis points rate cut in July and helped the greenback start recovering its losses. Meanwhile, FOMC Chairman Powell reiterated FOMC saw a stronger case for more accomodation.

EUR/USD News

GBP/USD eases further, holds above 1.2700

GBP/USD hit 1.2783 before changing direction, now closing to the 1.2700 figure. Broad dollar's weakness keeps the downside limited, despite subdued demand for Sterling.

GBP/USD News

USD/JPY slumps below 107 on dismal US data, risk aversion

The USD/JPY pair came under a renewed selling pressure in the American session and dropped below the 107 mark amid the ongoing broad USD weakness and the stronger demand for safe havens.

USD/JPY News

All that glitters is gold ahead of G-20 summit

Investors sought shelter in safe haven assets with gold prices surging above six-year high level and the yen strengthening due to ongoing geopolitical uncertainties, as well as investor caution ahead of today’s Fed Chairman speech and the Trump-Xi meeting on the sidelines of G-20 summit this Saturday.

Read more

Gold consolidates recent upsurge to multi-year tops, comfortable above $1400 mark

Gold adds to the post-FOMC upsurge amid escalating geopolitical tensions. A modest USD uptick/stability in equity markets prompts some profit-taking. The downside remains limited ahead of Powell’s speech later this Tuesday.

Gold News

Majors

Cryptocurrencies

Signatures