acetraderfx
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AceTraderFx Nov 14: Intra-Day News Market Moving and Views (EUR/USD)
Intra-Day Market Moving News and Views
14 Nov 2014 08:08GMT
EUR/USD - ....... The release of slight better-than-expected German GDP triggered intra-day broad-based short covering in the euro earlier. Reuters reported the German economy grew by just 0.1% in the 3rd quarter of 2014, narrowly avoiding a recession thanks to a strong rise in consumer spending n small boost from foreign trade.
Some economists had feared Europe's largest economy would sink into recession in the July-September period after a 2nd quarter contraction, but Germany managed to match a consensus forecast for 0.1% growth in a Reuters poll.
The Statistics Office said the main positive impulse came from private households "which sharply increased their spending" while foreign trade provided "a slight positive effect on GDP".
Investments declined overall, the Statistics Office said, with investment in equipment declining sharply, investment in construction down slightly and a clear reduction in inventories.
Euro pares intra-day losses as early release of slightly better-than-expected French & German GDP triggered minor short-covering in the euro. As mentioned in previous update, st specs sold the euro at Asian open in anticipation of downbeat GDP readings from France, Germany, Italy & then EZ.
Intra-day decline accelerated in post-Tokyo lunch session on dovish comments by ECB Council member Noyer, euro fell to 1.2427 ahead of European open b4 rebounding to 1.2456 after the German GDP data.
Range trading above 1.2427 is expected until release of Italy's GDP & later EZ GDP at 18:00GMT.
Offers are tipped at 1.2455/60 n more above with fairly stops reported above 1.2510.
Bids are noted at 1.2430-20 with stops below 1.2390.
Intra-Day Market Moving News and Views
14 Nov 2014 08:08GMT
EUR/USD - ....... The release of slight better-than-expected German GDP triggered intra-day broad-based short covering in the euro earlier. Reuters reported the German economy grew by just 0.1% in the 3rd quarter of 2014, narrowly avoiding a recession thanks to a strong rise in consumer spending n small boost from foreign trade.
Some economists had feared Europe's largest economy would sink into recession in the July-September period after a 2nd quarter contraction, but Germany managed to match a consensus forecast for 0.1% growth in a Reuters poll.
The Statistics Office said the main positive impulse came from private households "which sharply increased their spending" while foreign trade provided "a slight positive effect on GDP".
Investments declined overall, the Statistics Office said, with investment in equipment declining sharply, investment in construction down slightly and a clear reduction in inventories.
Euro pares intra-day losses as early release of slightly better-than-expected French & German GDP triggered minor short-covering in the euro. As mentioned in previous update, st specs sold the euro at Asian open in anticipation of downbeat GDP readings from France, Germany, Italy & then EZ.
Intra-day decline accelerated in post-Tokyo lunch session on dovish comments by ECB Council member Noyer, euro fell to 1.2427 ahead of European open b4 rebounding to 1.2456 after the German GDP data.
Range trading above 1.2427 is expected until release of Italy's GDP & later EZ GDP at 18:00GMT.
Offers are tipped at 1.2455/60 n more above with fairly stops reported above 1.2510.
Bids are noted at 1.2430-20 with stops below 1.2390.