Free Trial

Risk was given a boost in Asia as.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Risk was given a boost in Asia as markets reacted to news that a
China trade official to travel to the US for discussions(though seen as low
key). EUR/USD was taken to an initial high of $1.1383, as rate extended its
recovery away from Wednesday's low of $1.1301. Pullback to $1.1368 before rate
picked up another wave of demand which took it up to $1.1391 ahead of Europe.
Early Europe has kept with the theme, aided in part by activity in USD/CNH, with
rate edging on to $1.1398. Rate holding firm at writing, trades around $1.1390.
Resistance seen at $1.1400 ($1.1402 76.4% $1.1433-1.1301), a break to expose
recent highs at $1.1429/33(Aug14-13). Support remains at that dip low of $1.1368
ahead of $1.1355 and $1.1336. Action in EM remains the key driver, China news
overnight, Turkey getting $15bn of investments from Qatar seen easing recent EM
woes but remain in the background and ready to come to the fore again. 
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.