AceTraderFx Mar 31: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 31 Mar 2020 04:30GMT
EUR/USD - 1.1029… The single currency pares intra-day loss on minor short covering ahead of Tokyo lunch break after extending decline from yesterday’s high of 1.1143 (AUS) to 1.1085 in Asian morning, intra-day spike down to said Asian low was attributed to a sudden bout of usd demand.
There has been market chatter in last few sessions of volatile trading in NY morning later today due to purchase of usd by fund managers to re-balance porfolio for quarter end valuation at currency fixing at 15:00GMT and this may keep euro on the back foot. Therefore, the fall from Friday’s 1.1147 high to 1.0985 today confirms near term upmove from last Mon’s near 3-year bottom has made a temp. top and choppy consolidation with downside bias is in store. Offers are noted at 1.1045/55 n more at 1.1070 while some bids are touted at 1.0985/75 with stops below 1.0950.
We have data dump from euro area countries during European morning session, pleases refer to to Economic Indicators page for details and pay attention to German unemployment data at 07:55GMT.