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: 10 July 2020 05:30GMT

EUR/USD - 1.1270.. Euro gained no respite in hectic Asian trading following selloff from Thursday's fresh 3-week high of 1.1371 (EBS) to 1.1281 as usd regained traction of broad-based buying due to risk-off trade, price met renewed selling ahead of Asian open at 1.1290 n fell to 1.1271 after tripping stops below 1.1280 n stops below 1.1260 are now in focus.

Despite resumption of erratic rise from last week's low at 1.1186 Wed) to 1.1371 yesterday, euro's selloff from there suggests further volatile swings below June's 3-month peak at 1.1422 would continue with downside bias, so selling on recovery is favoured for subsequent weakness to 1.1220.
Offers are tipped at 1.1300/05 with stops above 1.1320 whilst bids are noted at 1.1265/60 n more at 1.1230/20.

The euro area countries will release a slew of eco. data, please refer to our EI page for details. There is EU FinMin meeting in Brussels n ECB Vice President de Guindos will participate via videoconference

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 flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.