Free Trial

Risk aversion rally Tuesday managed.....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Risk aversion rally Tuesday managed to extend EUR/USD's recovery to
$1.1250 before momentum faded. These gains were pared through the trading day,
the rate easing to an eventual low of $1.1168 in early NY before it settled
around $1.1200 through to the close. An early touch of $1.1198 in opening Asia
before rate settled back above $1.1200, edged to $1.1220 in early Tokyo before
it settled around $1.1210 into Europe. Early focus on Germany Industrial
Production at 0600GMT, following stronger than forecast Factory Orders data
Tuesday. Median -0.4%mm, -3.0%yy. France Trade data follows at 0645GMT. US Fed
Evans (moderate dove) speaks at 1330GMT, hosting a media breakfast in Chicago.
US-China trade spat remains a key driver. 
- Initial support seen between $1.1200-1.1190 ahead of $1.1168. Resistance
$1.1220, stronger into $1.1250. 
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.