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Free AccessRate was driven to a post fix high of...>
EURO-DOLLAR: Rate was driven to a post fix high of $1.1223 Friday before it
eased off to $1.1200 into the week's close. Rate marked an early Asia low of
$1.1193 before it slowly clawed its way higher through the balance of the
overnight session, edging to $1.1210 where it met resistance ahead of Europe.
Opening Europe lifted it to $1.1211, momentum not too convincing so far though
rate holds firm at writing. A break of $1.1212 to open a move on toward Friday's
high of $1.1223 ahead of $1.1230/35. Support remains back at $1.1200/1.1190,
stronger into $1.1180.
- US Trump tweets were again a market mover Friday, upping the ante vs China in
the current trade spat, criticized the Fed, downplayed any USD intervention.
Market will be on watch for more of the same this week.
- Focus today on Italy as Senate meets at 1500GMT. Press reports suggest meeting
will decide on timing of the no-confidence vote against PM Conte, the result of
which could lead to a snap election.
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.