EUR/USD effectively unchanged overnight in Asia, presently at 1.4200.
Pairing remains rangebound, with 1.4150-1.4300 well-defined parameters. Stops will no doubt be gathering either side of those parameters.
Euro zone data due this morning:
07:45 GMT: Italian services PMI for July expected 47.0 from 47.4
07:50 GMT: French services PMI for July (final) expected 54.2
07:55 GMT: German services PMI for July (final) expected 52.9
08:00 GMT: Euro zone services PMI for July (final) expected 51.4, composite 50.8
09:00 GMT: Euro zone retail sales for June expected +0.5% m/m, -1.0% y/y
We got EU’s Junker meeting with Italian FinMin Tremonti; Berlusconi addressing the Italian parliament and Portuguese parliament debate on 2011 budget.
And there’s also a small 3 month t-bill auction in Portugal (500-750 mln)
Our cup truly runneth over……..