Greenback generally little easier overnight in Asia, with real money noted seller. EUR/USD up at 1.3685 from North American close Tuesday down around 1.3655.
Seems sovereign interest recently has been to buy down around 1.3550 and offload above 1.3700. Good game, good game. Will be interesting to see how long this continues. Only thing I know for sure is it won’t be an ongoing game.
Euro zone data due today:
06:30 GMT: French CPI for January -0.1% m/m, +2.0% y/y
09:00 GMT: Italian CPI for January +0.4% m/m, +2.1% y/y
10:00 GMT: Euro zone industrial orders for December expected -1.0% m/m, +16.2% y/y
Sean mentioned sell orders layered from 1.3725 through 1.3750, mixed in with stops through 1.3730. I have a feeling they’ll be very lumpy stops close above 1.3750, but will need to sniff them out as the morning progresses.
Major European stockmarkets look set to open down around 0.5%.