Free Trial

EUR/USD has stuck to a tight range in...>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD has stuck to a tight range in Asia-Pacific hours.
- A deluge of ECB rhetoric headlined by ECB President Draghi reiterated the
ECB's patient stance/outlook on Tuesday, with reference to the optionality
afforded via last week's statement apparent. This weighed on the single
currency, but EUR/USD didn't breach $1.1510 (YtD low) and managed a modest
recovery. The cross last deals at $1.1580.
- Resistance is noted at $1.1660 (Hourly resistance June 14), support is seen at
the aforementioned YtD low.
- Immediate focus remains on ECB rhetoric with Draghi, Coeure, Villeroy,
Nowotny, Knot & Lautenschlaeger all set to speak on Wednesday, while the
political situations in Germany & Italy also remain in vogue.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@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.