Free Trial

EUR/USD has added 12 pips and last......>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD has added 12 pips and last deals at $1.1375. On Friday, the
rate closed 26 pips lower, mostly on the back of broader dollar strength, as USD
was aided by firmer than exp. U.S. industrial output print & headlines
suggesting China offers a way to eliminate trade imbalance with the U.S. 
- Worth mentioning German Cll'r Merkel said UK PM May is not solely responsible
for securing an orderly Brexit in a veiled call upon EU leaders to seek
compromise re: Brexit. 
- Bulls look for a break above the nearby 50-DMA at $1.1386, which would allow
them to target $1.1410, which capped gains Friday. Conversely, initial downside
focus falls on Friday's low at $1.1353, followed by the lower 1.0% 10-DMA
envelope at $1.1321. 
- ECB will keep its policy rate unchanged, when it delivers its MonPol decision
Thursday, with focus set to fall on the rhetoric surrounding the slowing EZ
economy. Elsewhere, EZ focus this week falls on German ZEW survey due Tuesday,
EZ m'fing PMI due Thursday (perhaps providing a notable line of discussion ahead
of the ECB decision) & German IFO due Friday.

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.