Free Trial

Opened in Asia toward the lower side....>

EURO-DOLLAR
EURO-DOLLAR: Opened in Asia toward the lower side of the $1.1896 to $1.1961
range witnessed yesterday, where euro-yen supply and hawkish comments from Fed's
Kaplan saw the euro ease from the fresh two-month high posted earlier. There is
no economic data or scheduled events in Asia likely to influence direction.
Euro-yen flows may well dictate trading, as investors keep an eye on regional
equities and news from of the Korean peninsula. Demand is cited on an approach
to $1.1880, with close stops touted below at $1.1860. Below Asia's $1.1891 low
seen after remarks made by Powell, support is found at $1.1870 (38.2% fib
$1.1713-1.1961 move), while key-resistance lies at $1.1965 (76.4% fib
$1.2092-$1.1554 decline). Euro-dollar was last at $1.1903.

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.