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.
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
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.