Free Trial

Extended its risk driven recovery to....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Extended its risk driven recovery to $1.1257 during Wednesday's NY
afternoon before easing off to $1.1232 ahead of the close. Market took stock of
recent moves, adjusting positions ahead of today's ECB Monetary Policy
announcement and Friday's US Employment Report, with some profit taking noted.
EUR/USD touched an early high in Asia of $1.1239 before turning lower again, the
rate easing down to $1.1211. Recovery into early Europe seen meeting some
resistance around $1.1220. Support seen into $1.1200, a break to open a deeper
move toward $1.1185/80 ahead of the $1.1167/66 area. Resistance $1.1240,
$1.1257/58, $1.1275, stronger into $1.1290/1.1300.
- EZ Retail Sales at 1000BST provide a curtain raiser to today's ECB Monetary
Policy announcement at 1245BST, with ECB Lagarde presser to follow at 1330BST.
ECB expected to top up their PEPP program in an effort to stem a protracted
Coronavirus downturn.
- US Trade data at 1330BST along with Weekly Jobless Claims . 
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.