Free Trial

Month-end related dollar sales saw......>

EURO-DOLLAR
EURO-DOLLAR: Month-end related dollar sales saw the EUR rally and close above
the 1.12 level. With most centres out in Asia volumes remained light held to a
very narrow $1.1211-20 range.
- Yesterday's positive close has shifted momentum back to the bulls with topside
focus on the 21-dma & broken trendline at $1.1234/50, above here opens a move
toward the $1.1260/65 area which has registered a series of previous highs.
- Quiet on the European calendar today as main attention turns to the US FOMC
(1800GMT). No analysts are expecting a move in the fed funds rate at this
meeting with main focus on any changes to the statement and possible further
detail on balance sheet reinvestment. US ADP & ISM mfg are also due up at
1215GMT/1400GMT.  

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.