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

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