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Free Access*** General pressure on the Eur saw.....>
EURO-DOLLAR: *** General pressure on the Eur saw Eur/Usd pressed to a low
Tuesday of $1.1801 with traders noting decent demand again noted into the
$1.1800 level. Rate recovered to $1.1830 ahead of Tuesday's close. Rate marked a
low of $1.1816 in Asia then spiked to $1.1848, gaining added momentum on the
break above $1.1830. This $1.1830 level now seen providing support in early
Europe. German Factory Orders, released at 0700GMT, provided a minor lift from
around $1.1834 to $1.1840 but struggled to build further. Cross plays seen
providing main drive with Eur/Yen currently trading heavy (generally stronger
Jpy) and seen weighing on Eur/Usd.
* Support $1.1830, $1.1800. Resistance $1.1850
* ECB Mersch speaks at 1030GMT.
- US ADP 1315GMT in focus ahead of Friday's US Jobs Report.
* Options: Expiries for today's NY cut, $1.1740-45(E510mn),
$1.1795-1.1805(E890mn), $1.1825(E702mn)
To read the full story
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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.