Free Trial

Rate extended its recovery off..........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Rate extended its recovery off Wednesday's low of $1.1676 to
$1.1750 Thursday before it settled back around $1.1720 into the close. Rate
touched a high of $1.1726 in early Asian trade before it drifted off to $1.1705
with recovery efforts so far fairly muted into Europe. Goto-bi day in Japan saw
USD/JPY pick up demand interest which in turn weighed back on EUR/USD. USD seen
generally firm into Europe, though off best levels. Risk aversion could continue
through Friday as US and UK markets adjust positions ahead of their long
weekend, with month-end approaching next week. Germany Ifo at 0800GMT provides
initial focus. US Durable Goods and UofM the data interest ahead of the weekend.
Resistance remains at $1.1750 ahead of $1.1780. Support $1.1705 ahead of $1.1690
then $1.1676. 
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.