Free Trial

Eur/Usd: Asia open $1.1859, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1859, range $1.1858-78. Europe open $1.1876,
range $1.1856-80.
* Eur/Usd continued its recent recovery to $1.1869 in NY Wednesday, move up
aided by perceived dovish FOMC Minutes. 
* FOMC Minutes saw concern voiced suggesting recent soft inflation data could be
more than just transitory.
* This has now turned the spotlight fully on to Friday's US CPI release for Fed
rate hike trajectory.
* Asia took the recovery on to $1.1878 before early Europe extended move to
$1.1880 before it met decent sell interest. 
* Rate drifted off to $1.1856, driven by Eur/Jpy sales, recovered to $1.1869
before it settled back on $1.1860.
* Stronger than forecast EZ IP had little noticeable effect, coming after strong
German data likely in the rate.
* Friday's US CPI data now holds the key to next directional impetus, markets
quiet ahead.
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.