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

AceTrader Team AceTrader

Intra-Day Market Moving News and Views

Update Time: 18 Feb 2020 04:30GMT

EUR/USD - 1.0828... Despite rebounding to 1.0850 in holiday-thinned trading yesterday, the single currency met renewed selling below previous resistance at 1.0861 and retreated to 1.0830. The pair then broke through last Friday's near 3-year trough at 1.0828 to 1.0824 in Asian morning on concerns over eurozone's growth. However, lack of follow-through selling triggered short-covering and price recovered to 1.0829.

Euro's intra-day break of last Friday's low at 1.0828 signals medium-term decline has once again resumed and further weakness to 1.0780/90 would be seen after consolidation.
Offers are now lowered to 1.0840/50 and more above at 1.0850/60 with stops building up above there whilst initial bids are noted at 1.0770/80.

Market focus is on the release of German ZEW economic sentiment and current conditions at 10:00GMT.
Street forecasts are for a drop to 21.5 and -10.3 vs previous readings of 26.7 and -9.5 respectively.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

EUR/USD climbs to daily highs on US CPI

EUR/USD now accelerates it rebound and flirts with the 1.1880 zone on Friday, or daily highs, all in response to renewed selling pressure on the US Dollar. In the meantime, US inflation figures showed the headline CPI rose less than expected in January, removing some tailwinds from the Greenback’s momentum.

GBP/USD clings to gains above 1.3600

GBP/USD reverses three consecutive daily pullbacks on Friday, hovering around the low-1.3600s on the back of the vacillating performance of the Greenback in the wake of the release of US CPI prints in January. Earlier in the day, the BoE’s Pill suggested that UK inflation could settle around 2.5%, above the bank’s goal.

Gold: Upside remains capped by $5,000

Gold is reclaiming part of the ground lost on Wednesday’s marked retracement, as bargain-hunters seem to have stepped in. The precious metal’s upside, however, appears limited amid the slightly better tone in the US Dollar after US inflation data saw the CPI rise less than estimated at the beginning of the year.