Intra-day market moving news and views
Update Time: 14 July 2021 05:30GMT
EUR/USD - 1.1781.. Euro languishes near Tuesday's 3-month trough of 1.1773 in relatively subdued Asian trading as market is on yen initially, then intra-day jump in the kiwi.
Despite intra-day sellof to 1.1793 after release of 'hot' US inflation data, euro staged a short-covering bounce to 1.1832 but only to tumble to session lows of 1.1773 as U.S. yields rallied. As yesterday's break of prev. July's 1.1782 low suggests correction from 2021 bottom at 1.1705 (March) has ended, price is en route to re-test this level especially if J. Powells sounds less dovish in his 2-day semi-annual testimony before the Senate.
Therefore, selling euro on recovery is the way to go, offers are tipped at 1.1795/05 n more above with stops touted above 1.1840. Bids are noted at 1.1770/60 with stops below there.
Eco. data in the euro area countries is very light with EU's industrial production being he only data due out. Market in France is closed for Bastille Day holiday.
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 regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.