Intra-Day Market Moving News and Views

Update Time: 06 Jan 2020 04:30GMT

EUR/USD - 1.1166.. Euro moves narrowly in subdued Asian trading as market focus is on the safe-haven yen as well as gold n oil. Having said that, the single currency went through a 'roller-coaster' ride in hectic Fri session.

Price met renewed selling in Asia at 1.1178 Friday and tumbled to a near 1-week low of 1.1126 (Europe) due to active selling in eur/yen and eur/chf crosses, however, release of downbeat U.S. data hurt the usd n triggered active short covering in euro, price later rallied to session highs of 1.1180 before retreating to 1.1153 near the close. As rebound from 1.1126 suggests pullback from last Tue's 4-1/2 month peak has possibly ended, consolidation with upside bias is seen. Bids are noted at 1.1160-50 with stops below 1.1125.
Offers are noted at 1.1180-00 area with stops touted above 1.1200/05.

Today is PMI day in the euro area countries, Germany will kick off 2ith retail sales, Italy will release Markit services PMI for Dec, then the same fm France, Germany n then the EU as well as Setix sentiment index n PPI.

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