Intra-day market moving news and views
Update Time: 25 Nov 2021 05:30GMT.
EUR/USD - 1.1210. Euro is turning losses in relatively subdued Asian morning after yesterday's selloff from 1.1255 in Europe to a fresh 16-month bottom at 1.1187 in New York morning on broad-based USD's strength before staging a minor recovery in New York afternoon.
Intra-day gain to 1.1212 in Asian morning suggests euro would consolidate above 1.1187 ahead of European open, reckon 1.1227 (Tuesday low, now res) would cap upside and yield another fall later today, however, loss of downward momentum is expected to prevent steep fall and 1.1135/40 should remain intact.
Offers are tipped at 1.1220/25 with stops above 1.1235 while some bids are noted at 1.1195-85 with stops below 1.1180.
Although trading will die down later today in N. American morning due to Thanksgiving holiday in the U.S., euro area countries will release a slew of eco. data which will move the euro, and pay attention to German Q3 GDP and Gfk consumer confidence at European open and later, minutes of last ECB policy meeting. We also have a number of ECB officials scheduled to speak including ECB President Lagarde.
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