Free Trial

Recovery off Friday's low of $1.1066....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off Friday's low of $1.1066 saw a brief hiccup in early NY
trade Monday, the rate having touched $1.1089 during the European morning only
to get knocked back to $1.1070. However, rate bounced to $1.1096 before it
settled around $1.1089 into the close. Consolidation through a generally quiet
Asian session, trade confined to a tight $1.1085/94 range as markets approach
Christmas (some European centres already closed). Nothing major on the
data/speaker calendar for today, US Richmond Fed at 1500GMT, though European
markets expected to be mainly closed by then. 
- Support $1.1070/66, $1.1050. Resistance $1.1096/97(intraday high/23.6%
$1.1199-1.1066) and into $1.1100/10.  
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.