Free Trial

Eur/Usd: Europe open $1.1850, range....>

EURO SUMMARY
EURO SUMMARY: Eur/Usd: Europe open $1.1850, range $1.1845-62, NY open $1.1851,
range $1.1829-1.1857
*German ForMin Gabriel warning a German minority govt could cause instability in
the EZ pressed rate from $1.1860's to $1.1817 in Asia. *Liquidity reported poor
and exaggerated the move.
*Recovery capped at $1.1852 ahead of Europe before early Europe demand lifted
rate on to $1.1862.
*The pair remained in consolidation mode into the NY open with the rate bouncing
between $1.1850-60.
*Very little market reaction to the release of weaker than expected
US Durable Goods Orders (+1.3% act-+2.3exp). 
*Pressure on the euro across the board, in particular eur/yen saw the rate
follow suit with the rate dropping towards $1.1825.
*The dollar pared back some of its gains as US Tsys Yields rallied, along with
gold the rate grinded towards $1.1860.

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.