Free Trial

Eur/Usd: Asia open $1.1866, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1866, range $1.1862-77. Europe open $1.1868,
range $1.1842-77. 
* Eur/Usd recovery off Monday lows of $1.1829 extended to $1.1868 into the
close.
* Asia took move on to $1.1877 before momentum faded and rate drifted off to
$1.1866 into Europe.
* Europe extended this correction to $1.1863 before a sharp bounce back saw rate
retest the Asian high of $1.1877. 
* Another rejection from this level saw rate pressed to an eventual low of
$1.1842($1.1840 76.4% $1.1829-77).
* Rate recovered to $1.1859 before it settled between $1.1850/55 late morning. 
* Release of final EZ Services and Composite PMI data saw little to no reaction,
EZ data confirmed the flash release. 
* US Trade data at 1330GMT followed by non-manufacturing PMI and ISM at
1445GMT/1500GMT respectively.
* Support $1.1840-29. Resistance $1.1877/80.  
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.