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: 19 Apr 2021 05:30GMT

EUR/USD - 1.1963.. Despite rising one tick above Thursday's 1.1993 high to a fresh 5-week peak of 1.1994 in Europe on Friday, the euro retreated to 1.1973 in New York on profit taking n price further pared recent gains n inched lower to 1.1962 in early Asian morning Monday, suggesting range trading is in store.

This week price action is important to determine eur's next 150-200 points move. As long as 1.2027 (50% r of 1.2349-1.1705) holds, Medium Term bearishness remains, a daily close below 1.1927 (prev. res, now sup) would signal corrective rise from 1.1705 is over, perhaps Thursday's ECB monetary policy announcement n post-ECB presser may well be the key driver.

Order book is pretty thin on Monday with some bids noted at 1.1965/55 with stops touted below 1.1950 while offers are tipped at 1.1990/00 with stops above there.

On the data front, we have EU's construction output n the current account. The German Bundesbank will release its monthly report sometime in European morning.

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.