Intra-day market moving news and views

Update Time: 10 Jun 2021 05:30GMT

EUR/USD - 1.2170.. Euro remains on the back foot in Asian morning after Wed's roller-coaster ride. Despite meeting renewed buying at 1.2172 (AUS) in Australian morning n a brief break of Monday's 1.2201 high to 1.2218 on the back of falling U.S. yields, the single currency then fell on safe-haven USD's buying due to intra-day decline in U.S. stocks.

As yesterday's retreat from 1.2218 suggests near term up move from Friday's 1.2105 trough has made a top n sideways swings are in store as traders are keeping their powder dry ahead of key ECB monetary policy announcement at 11:45GMT, then post-ECB presser by ECB president Lagarde at 12:30GMT as well as the most awaited U.S. eco. data this week, annual CPI. If Lagarde hints at the tapering of QE, euro will jump but if she avoids this topic and shrugs off the recent rise in EU bonds yields n US CPI comes in as per forecast or higher, then the euro will fall.

On the data front, ahead of ECB announcement, we have France's non-farm payrolls, industrial output n the same from Italy.

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