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Free AccessStrong NFP/AHE react saw Eur/Usd drop...>
EURO-DOLLAR: Strong NFP/AHE react saw Eur/Usd drop to $1.2410 before it
recovered to $1.2491. Rate the eased off to $1.2449 ahead of its $1.2457 close.
Weekend reports that Germany's Merkel had failed to conclude coalition
negotiations with the SPD(talks to reconvene today), along with France Macron's
party losing 2-seats(first electoral test since coming to power in June - still
controls 309 seats in 577 seat National Assembly) acted to press Eur/Usd back to
$1.2425 in early Asia before general Usd sales allowed rate to edge up to
$1.2466. Corrective pullbacks were buoyed above $1.2450 ahead of Europe but rate
has since made a show below in early trade, touched $1.2447, currently around
$1.2451. Despite the data boost the Eur continues to trade with an underlying
buoyant tone.
*Data: EZ Services/Composite PMI's 0900GMT, Sentix Investor Confidence 0930GMT,
EZ Retail Sales 1000GMT.
* ECB Draghi speaks in European Parliament 1600GMT.
* Support $1.2425, $1.2410. Resistance $1.2466, $1.2490/1.2500.
* Option expiries of note, $1.2350(E1.64bn), $1.2550(E1.22bn)
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.