Free Trial

Eur/Usd: Asia open $1.1848, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1848, range $1.1845-62. Europe open $1.1854,
range $1.1810-59.
* German election result weighed on the Eur through Monday's session, took
Eur/Usd to an extended low of $1.1832.
* Rate recovered to $1.1855 before it settled around $1.1850 into Monday's
close.
* Rate extended its recovery to $1.1862 in Asia then eased back to $1.1854 into
Europe.
* Early Europe saw decent Eur sales across the board, extended Eur/Usd low to
$1.1836, but bids $1.1840/25 cushioned.
* Rate snapped back to $1.1859 before fresh sellers emerged.
* Break of Eur/Gbp support at Gbp0.8775 provided the catalyst as Eur/Usd broke
down to $1.1822($1.1823 Aug31 low).
* Rate bounced to $1.1842 but only offered better levels for sellers as they
pressed rate to an eventual low of $1.1810.
* Decent demand appeared on platforms at $1.1810/09 which contained.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

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.