[B]Intra-Day Market Moving News and Views
22 Apr 2015 [/B] [I]06:27GMT[/I]
[B]EUR/USD[/B] - ...... Although euro retreated briefly from 1.0748 to 1.0727 after comments from ECB's Executive Broad Member Benoit Coeure (see our prev. MMN), price rebounded at shortly after European open n climbed to a fresh session high of 1.0757.
At the moment, offers are noted at 1.0760-70 with stops reported above 1.0785. On the downside, bids are placed at 1.0730/25, 1.0720-10 n more below with fairly large stops touted below yesterday’s low at 1.0660.
No major EZ data are due out today except for a slew of eco. releases from Italy.
This morning although euro rallied from 1.0660 to 1.0782 after EZ FinMins removed deadline of Greek fiscal reforms, euro retreated in NY afternoon after buying evaporated. Despite trading narrowly in Australia, traders sold euro on the New York Times report of the ECB is demanding a 50% cut in the value of collateral Greek banks have deposited with the central bank for loan. Euro briefly hit intra-day low of 1.0717 before stabilising.
Looks like range trading is in store until European open as market awaits reaction of the NYT report fm European traders. No major EZ data are due out today except for a slew of eco. releases from Italy.