Intra-Day Market Moving News and Views
Update Time: 17 Sept 2020 05:30GMT
EUR/USD - 1.1765... The single currency went through a roller-coaster ride yesterday as despite rising from Asian low at 1.1830 to session highs at 1.1882 in European morning, price dropped to 1.1810 in New York morning. The pair then briefly rebounded to 1.1854 before swiftly falling to 1.1789 on usd's strength in post-FOMC trading together with cross-selling of euro especially vs sterling. Price then met renewed selling at 1.1819 in Australia today and fell to 1.1761 in Asia before stabilising.
Euro's intra-day break below yesterday's low at 1.1789 suggests early recovery from last Wednesday's near 4-week trough at 1.1754 has ended at 1.1917 last Thursday and consolidation with downside bias remains for a re-test of said support, break would extend decline from 107.04 (August) to 1.1712 later.
Offers are now seen at 1.1780/90 and more above at 1.1800/10 with stops building up above there whilst initial bids are noted at 1.1700/10.
Data to be released on Thursday
Swiss trade balance, exports, imports, Italy trade balance, EU construction output, HICP, core HICP, UK BoE interest rate decision, BoE asset purchase program, BoE QE total, BoE QE corporate bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continued jobless claims, Philadelphia Fed manufacturing survey, and Canada ADP employment change.
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 steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, awaits Fed Chair Powell's speech for fresh hints on next week's price action.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.