Intra-day Market Moving News and Views
29 Dec 2015 03:08GMT
[B]EUR/USD [/B]- ...... Euro also moves narrowly in subdued Asian morning after yesterday's retreat from European high of 1.0993 to 1.0958 in New York, suggesting range trading would continue until European open.
Traders touted offers at 1.0990/00, so unless more bids emerge, sideways move would continue and buying interest is tipped at 1.0950-40 with some stops below 1.0920.
The only data due out today in Europe is Italy's business confidence which is unlikely to stir up much excitement. Therefore, euro may well react to release of U.S. data indicated in previous update in New York morning.
Reuters earlier reported that speculators raised bearish bets on the euro, as net shorts were increased after falling the previous week to their lowest in about four weeks. The latest week's net short euro contracts were 161,047, compared with 159,961 the week before.
Net short euro contracts had been steadily declining especially in the wake of a smaller-than-expected stimulus move from the European Central Bank early this month.
For the year, the euro was down 9.4 percent against the dollar through December 22.