Free Trial

Recovery off Tuesday's low of...........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off Tuesday's low of $1.1258(YTD low) extended on to
$1.1342(Asia Wed, NY Tue $1.1340) before it started to turn lower into Europe.
Break back below $1.1300 provided the momentum to extend move to $1.1281.
Recovery saw a quick look back above $1.1300 to $1.1304 before it was pressed to
a fresh pullback low of $1.1273. Rate currently trades around $1.1280. Support
remains at $1.1273, a break to expose Tuesday's low of $1.1258 with support seen
through to $1.1250. Resistance now at $1.1300-05 ahead of $1.1330/35. Market
watching USD/JPY activity on its approach to Y111.00 for general USD direction.
- Germany and EZ GDP provide the European data highlights Thursday with growth
data providing the main drive data of late. US Retail Sales seen as key above
Weekly Jobless Claims and PPI. 
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.