EUR/USD: Intra-day news and views and data to be released today
|EUR/USD - 1.1605.. Euro moved narrowly but with a soft bias in relatively subdued Asian morning after Wednesday's volatile trading in New York session. Despite intra-day fall from 1.1598 (Europe) to 1.1563 following upbeat U.S. data esp. record rise in ISD non-mfg index, price jumped in post-FOMC when Fed released its statement n restated its belief that current high inflation is "expected to be transitory", this triggered broad-based selling in the greenback as market was long USD ahead of FOMC.
Although Wednesday's rebound from 1.1563 to 1.1616 suggests further choppy swings above last Fri's 2-week trough at 1.1535 would continue until release of Friday's U.S. NFP, further strong rise above 1.1616 is unlikely to be seen as current rising U.S. yields should lend support to usd.
Bids are noted at 1.1590-80 with stops below 1.1560 while offers are tipped at 1.1515/25 with stops touted above there.
Today is PMI day in the euro area countries, please refer to our EI page for details and pay attention to German and the EU's Markit services PMIs.
We also have a number of ECB officials scheduled to speak n ECB President Lagarde will speak at a conference at 12:45GMT.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.