Intra-day market moving news and views

Update Time: 08 Apr 2021 05:30GMT

EUR/USD - 1.1870... The single currency moved narrowly in Asia yesterday following Tuesday's rally to 1.1877, price retreated to 1.1865 at European open before rising on renewed euro buying versus yen and sterling. The pair climbed to 1.1914 in New York but only to fall to 1.1862 after release of Fed minutes, then 1.1861 in Asian morning today.

Although euro's retreat after resumption of upmove from March's 4-1/2 month trough at 1.1705 to 1.1914 yesterday suggests minor temporary top is made and choppy sideways swings is in store before prospect of another rise. However, loss of upward momentum should cap price below 1.1947 and yield retreat.
Bids are noted at 1.1855-50 with stops below there while offers are tipped at 1.1900/10 with more above and stops above 1.1945/50.

On the data front, Germany's industrial orders is scheduled to release at 06:00 GMT, followed by France current account, trade balance, imports, exports at 06:45, then EU producer price index at 09:00 GMT.

We also have ECB monetary policy meeting account at 11:30 GMT.

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