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: 28 July 2021 05:30GMT.

EUR/USD - 1.1823.. Euro pares Tue's gain n inched lower initially to 1.1813 in Asia morning. Despite y'day's initial fall fm 1.1812 at Asian open to 1.1771 on cross-selling in euro, the single currency caught a bid at NY open n rallied to 1.1841 in New York on broad-based short covering.

Although Tue's brief break of last week's 1.1830 top to an 11-day peak of 1.1841 suggests recent decline has made a temp. low at last Wed's fresh 3-1/2 month trough of 1.1753, a daily close above 1.1850 res needed to bring stronger correction to 1.1880/90 (Fed's dovish hold perhaps). On the downside, below 1.1800/02 would be 1st signal retracement is over n head back to 1.1771, then 1.1753. Offers are tipped at 1.1730/40 with stops abv 1.1850 while bids are tipped at 1.1810/00 with some stops below there.

Ahead of the key FOMC announcement, we have a slew of European data due out in European morning, pls refer to our EI page for details n pay attention to Germany's Gfk consumer sentiment at European open.

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.