Free Trial

Positive USD sentiment Wednesday........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Positive USD sentiment Wednesday gained a boost following the
release of FOMC Minutes, though was seen only confirming recent hawkish Fed
comment. EUR/USD had eased to an initial low of $1.1521 in early NY, reversed
away from a recovery high of $1.1547  before it pressed to a late NY low of
$1.1496 post FOMC. Rate traded a tight range in Asia, clung around $1.1500 and
touched an extended low of $1.1594. Early Europe has extended it to $1.1491
though with no apparent intent. Rate currently trades around $1.1496. Support
seen into $1.1480, a break below to expose $1.1455/50. Resistance $1.1505,
$1.1520 ahead of $1.1550. Italy Budget has been presented to the EU, the body
has until Oct22 to reject, until Oct29 to present revision ideas. A light EZ
data calendar Thursday. Focus on US Weekly Jobless Claims. ECB Nowotny, Fed
Bullard & Quarles all due to speak.
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.