Free Trial

EUR/USD last $1.1363 after dropping 8...>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD last $1.1363 after dropping 8 pips Thursday. The rate fell
~60 pips after the ECB cut both their inflation and growth forecasts for 2019
and halted their asset purchase program, with President Draghi stressing that
the risk balance is moving to the downside. 
- Also worth noting a RTRS sources piece which suggested that some ECB members
wanted to strike an even more cautious tone. However, EUR/USD recouped most of
aforementioned losses. 
- Initial support is located at $1.1331 representing yesterday's low and a fall
through this level would open up the hourly support at $1.1325. Meanwhile, bulls
eye yesterday's high at $1.1393, followed by the 50-DMA/Dec 11 high at
$1.1399/1.1400. 
- Flash December PMIs from across the EZ are set to come out later today, while
ECB's de Guindos, Nowotny, Lautenschlaeger, Razmusa, de Cos and Angeloni will
provide central bank rhetoric.

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.