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AceTraderFx Feb 05: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 05 Feb 2020 04:30GMT
EUR/USD - 1.1040.. The single currency moved narrowly in subdued trading on Tuesday as market focus was on the Japanese yen n sterling. Price met renewed selling at 1.1064 at European open n edged lower due to intra-day selloff in sterling, despite a strg bounce in cable, euro hit session lows of 1.1034 in New York morning due to unwinding of long eur/gbp cross positions.
Euro's decline from 1.1096 (Friday) to 1.1037 Monday, then 1.1034 y'day suggests early correction from last Wednesday's 8-week trough at 1.0993 has ended and consolidation of downside bias is in store.
Offers are tipped at 1.1050/60 and more above with stops above 1.1070/80 while bids are noted at 1.1035-25 with stops below 1.1015.
On the eco. data front, today is PMI day in the euro area countries. Italy will kick off with Markit services PMI, then the same fm France, Germany, the EU as well as EU's retail sales. ECB's Vice President de Guindos and ECB Chief Economist Lane were scheduled to speak in European morning.
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Intra-Day Market Moving News and Views
Update Time: 05 Feb 2020 04:30GMT
EUR/USD - 1.1040.. The single currency moved narrowly in subdued trading on Tuesday as market focus was on the Japanese yen n sterling. Price met renewed selling at 1.1064 at European open n edged lower due to intra-day selloff in sterling, despite a strg bounce in cable, euro hit session lows of 1.1034 in New York morning due to unwinding of long eur/gbp cross positions.
Euro's decline from 1.1096 (Friday) to 1.1037 Monday, then 1.1034 y'day suggests early correction from last Wednesday's 8-week trough at 1.0993 has ended and consolidation of downside bias is in store.
Offers are tipped at 1.1050/60 and more above with stops above 1.1070/80 while bids are noted at 1.1035-25 with stops below 1.1015.
On the eco. data front, today is PMI day in the euro area countries. Italy will kick off with Markit services PMI, then the same fm France, Germany, the EU as well as EU's retail sales. ECB's Vice President de Guindos and ECB Chief Economist Lane were scheduled to speak in European morning.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates