Up at 1.4160 from a North American close Wednesday down around 1.4085. The move comes against a general risk on backdrop. There have also been reports of China stepping up its’ buying of European bail-out bonds and its’ direct investment in Europe.
Euro zone data due today:
06:00 GMT: German import price index for April expected +0.7% m/m, +9.9% y/y
06;45 GMT: French consumer confidence index for May expected 84 from 83
08:00 GMT: Italian business confidence for May expected 102.7 from 103.0
09:15 GMT: ECB’s Nowotny speaks
09:20 GMT: ECB’s Trichet speaks
12:00 GMT: ECB’s Bini Smaghi speaks
Next resistance of note as Sean highlighted earlier 1.4205 (61.8% retracement 1.4345-1.3970). Guess next batch of buy stops will be gathered just above there.