Intra-Day Market Moving News and Views

Update Time: 14 Aug 2020 05:30GMT

EUR/USD - 1.1811... The single currency swung wildly in hectic trading yesterday. The pair traded with a firm bias in Europe and gained to session highs at 1.1864 in New York morning on usd's broad-based weakness, however, price pared its gains and retreated sharply to 1.1794 in New York afternoon. Euro then staged a rebound to 1.1820 at Asian open today before retreating again to 1.1802.

Euro's sharp retreat from 1.1864 to 1.1794 yesterday suggests the recovery from Wednesday's low at 1.1712 has ended there and consolidation with downside bias remains for weakness to 1.1750/55.
Offers are now seen at 1.1830/40 with stops building up above there whilst initial bids are noted at 1.1720/30.

EU will release its final figures its Q2 GDP at 09:00GMT. Street forecasts for QQ and YY are -12.1% and -15.0%, unchanged from their preliminary readings respectively.

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