Intra-day market moving news and views
Update Time: 04 May 2021 05:30GMT
EUR/USD - 1.2050.. Despite staging a strong rebound from Monday's 10-day trough of 1.2014 (Europe) to as high as 1.2075 in New York morning due to USD's weakness caused by release of soft US ISM mfg PMI n falling U.S. yields, the single currency inches lower due to renewed broad-based usd buying in holiday-thin Asian morning.
As said rebound on Mon suggests 1st leg of correction from last Thursday's 8-week peak at 1.2149 has ended, consolidation is in store before prospect of another fall to next daily chart obj. at 1.1994, therefore, selling euro on intra-day recovery is still favoured.
Order board is pretty thin with some offers tipped at 1.2065/75 with stops above there while bids are noted at 1.2050/40 with stops below 1.2035.
Economic calendar is very light in the euro area countries with France's budget balance being the only data due out. We have ECB Board member de Galhau scheduled to speak at a European Investment Bank conference at 07:30GMT.
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
AUD/USD failed just ahead of the 200-day SMA
Finally, AUD/USD managed to break above the 0.6500 barrier on Wednesday, extending the weekly recovery, although its advance faltered just ahead of the 0.6530 region, where the key 200-day SMA sits.
EUR/USD met some decent resistance above 1.0700
EUR/USD remained unable to gather extra upside traction and surpass the 1.0700 hurdle in a convincing fashion on Wednesday, instead giving away part of the weekly gains against the backdrop of a decent bounce in the Dollar.
Gold keeps consolidating ahead of US first-tier figures
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Bitcoin price could be primed for correction as bearish activity grows near $66K area
Bitcoin (BTC) price managed to maintain a northbound trajectory after the April 20 halving, despite bold assertions by analysts that the event would be a “sell the news” situation. However, after four days of strength, the tables could be turning as a dark cloud now hovers above BTC price.
Bank of Japan's predicament: The BOJ is trapped
In this special edition of TradeGATEHub Live Trading, we're joined by guest speaker Tavi @TaviCosta, who shares his insights on the Bank of Japan's current predicament, stating, 'The BOJ is Trapped.'