[B]Intra-Day Market Moving News and Views
10 Apr 2015[/B] [I]02:34GMT[/I]
[B]EUR/USD [/B]- ...... Euro gains respite temporary respite in Asia after clocking up 4 consecutive days of losses. Although euro tumbled on Thur below last week's low at 1.0713 to a fresh 2-1/2 week trough at 1.0637 in NY due to renewed broad-based strength in the greenback n comments from IMF head Christine Lagarde (see prev. update), short-covering lifted price near NY close n price recovered to 1.0684 in Asian morning on Fri.
Euro’s weakness since the beginning of this week suggests selling the single currency on intra-day recovery is favoured today. At the moment, offers are tipped at 1.0685/90, 1.0700-10 n then 1.0735/40 with stops building above 1.0750, whilst bids are noted at 1.0650-40 with stops below 1.0600.
It was reported Greece could suffer if it were forced to default on its payments n exit the euro zone, while the currency bloc is better able to weather such a shock than it was 4 years ago, the head of the IMF said on Thursday.
“I think it would be a terrible situation for the Greek people,” IMF MD Christine Lagarde said on CNBC in response to a question about a potential Greek exit from the currency bloc.
She added that the euro zone is now in a less vulnerable position due to its banking union n strengthened fiscal union.
[B]Friday [/B]will see the release of China CPI, PPI, France industrial output, UK industrial output, manufacturing production, Canada housing starts, unemployment rate, U.S. export price index, import price index and Fed budget.