EUR/USD steady into Europe..

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Little to report  after a  miniscule range in Asia,  as the market awaits the ECB rate decision (expected unchanged) at 1245 GMT.

There are bids  from 1.3020 layered down to 1.2990 (55 day MA 1.2994) with reported sell stops through 1.2980. Topside offers start from  1.3055/70 (100 hr MA 1.3070) with larger up at 1.3090/00 (kijun line 1.3092). Possible buy stops just above ahead of  more offers up at  1.3130/40.

Focus will be on  Draghi’s comments  at 1330 GMT following the rate decision for possible signs that the easing cycle is over.

EUR/USD’s currently trading around 1.3057

9 Comments

  1. morning Pete, Do you see 1.500 level for GBPAUD?

  2. Will talk of reduced easing be likely to boost E/U pair Pete?

  3. I think it could be perceived that way Mary

  4. As i’ve said to you before koorosh, it’s not a pair i watch. Cable is largely static, but AUD/USD’s being boosted by the China data earlier and Asian equity markets

  5. Hi, Pete

    Are you still looking forward the poll in eur/usd to go with 1.3215 before 1.3015?

  6. I haven’t changed my view Tam ;)

  7. Morning Pete, was there really any easing cycle to stop? (apart from rate cut last spring) . I mean comparing to massive easing from US? And what do you think Pete for the negative O/N rate option, could that hurt any upbeat tone of EUR/USD? Your comments are always much appreciated

  8. I don’t think they’ll move dimfx, the market’s going to be very focused on what Draghi says , i think personally there may a rally in the wings for the euro, albeit maybe yen driven

  9. Thanks Pete, atb

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