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

AceTrader Team AceTrader

Intra-Day Market Moving News and Views

Update Time: 17 Oct 2019 04:30GMT

EUR/USD - 1.1079.. The single currency stands tall in quiet Asian trading after climbing to a 3-week high of 1.1085 in New York session on Wed after intra-day volatile swings in hectic European morning.

Despite initial brief rise to 1.1059 at European open, euro fell to session lows of 1.1023 before ratcheting higher in tandem with sterling in New York morning and hit 1.1085 after New York midday. Yesterday's break of last week's 1.1062 high (Friday) confirms recent erratic upmove has once again resumed and price is en route to re-test next daily objective at 1.1109 (September high) after consolidation, however, reckon 1.1164 res would remain intact this week.
Bids are noted at 1.1060-50 with stops below 1.1020.
Offers are tipped at 1.1085/95 and more above with stops reported above 1.1110.

On the data front, Italy will kick off with trade balance and then EU's construction output. We have a European Council Summit meeting on Brexit. Also, ECB member Coeure will participate in G20 FinMin and Cenbank deputy governors meeting in Washington, D.C. as well as the annual IMF/World Bank annual meetings.

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