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.
Recommended Content
Editors’ Picks
GBP/USD remains on the defensive below 1.2450 ahead of UK Retail Sales data
GBP/USD remains on the defensive near 1.2430 during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar as the strong US economic data and hawkish remarks from the Fed officials have triggered the speculation that the US central bank will delay interest rate cuts to September.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.
Israel vs. Iran: Fear of escalation grips risk markets
Recent reports of an Israeli aerial bombardment targeting a key nuclear facility in central Isfahan have sparked a significant shift out of risk assets and into safe-haven investments.