Free Trial

A fairly subdued pre FOMC EUR/USD.......>

MNI (London)
EURO-DOLLAR: A fairly subdued pre FOMC EUR/USD trading session in Asia, the rate
contained within a tight $1.1148-59 range. Rate did touch the high in early Asia
only to ease off to the low on risk aversion as markets reacted to US Trump
comments ahead of US-China trade talks. Rate has slowly recovered to $1.1158
into early Europe. Main focus on the day is on the FOMC announcement with a cut
of 25bps widely expected, more attention seen on the press conference and for
future rate path.
- Morning interest placed on release of French CPI at 0645GMT ahead of flash EZ
CPI data at 0900GMT. US ADP 1215GMT, ahead of Friday's NFP, and Chicago PMI
1345GMT provide the curtain raisers ahead of FOMC at 1800GMT.
- Resistance seen at Tuesday's high of $1.1161 ahead of $1.1188, the post ECB
meet high. Support $1.1138-32 with stronger support seen into $1.1100.    
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.