USD: Greenback Pops Higher on Source Report Concerning Currency Pledges
May-14 17:00
- A decent bump higher for the dollar in recent trade, as an article drops on Bloomberg suggesting US officials are not seeking to include currency policy pledges in trade deals, according to a person familiar with the matter.
- Markets remain sensitive to these types of headlines on Wednesday, as broader greenback pressure was seen earlier in the session as it was announced that The US and South Korea agreed to share a mutual understanding of the principles they hold for operating foreign exchange markets and to continue discussions on FX policy.
- USDJPY rallied from 146.50 to 147.11 on the headline but has reversed back to 146.70 at typing. The pair has remained within its impressive 206 pip range, having printed as low as 145.61 during the European morning.
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EURUSD TECHS: Trend Needle Points North
Apr-14 17:00
- RES 4: 1.1608 High Nov 9 2021
- RES 3: 1.1555 1.382 proj of the Feb 28 - Mar 18 - 27 price swing
- RES 2: 1.1495 High Feb 10 2022
- RES 1: 1.1473 High Apr 11
- PRICE: 1.1350 @ 15:46 BST Apr 14
- SUP 1: 1.1144 High Apr 3 and a recent breakout level
- SUP 2: 1.08932 20-day EMA
- SUP 3: 1.0765 50-day EMA and a short-term pivot level
- SUP 4: 1.0733 Low Mar 27 and a key short-term support
A bull cycle in EURUSD remains intact and last week’s gains reinforce this condition. The breach of 1.1144, the Apr 3 high and bull trigger, confirmed a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on 1.1555 next, a Fibonacci projection. Initial support lies at the 1.1144 breakout level. Key support is at 1.0932, the 20-day EMA.
MNI EXCLUSIVE: Former Chicago Fed's Evans On Policy Outlook
Apr-14 16:57
MNI interviews former Chicago Fed President Charles Evans on the outlook for central bank policy. -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
OPTIONS: Euribor Call Structures Prevalent As ECB Week Begins
Apr-14 16:52
Monday's Europe rates/bond options flow included:
- ERM5 98.0625/98.125/98.1875c fly, bought for half in 4k
- ERM5 98.00/98.12cs 1x1.5, sold the 1 at -0.5 in 6k
- ERM5 97.75/97.87cs 1x1.5, bought the 2 for 4 in 6k.
- SFIK5 95.95/96.10cs, bought for 3.75 in 4k
