EUR/USD sits at 1.3968, up marginally from North American close Friday around 1.3930. The release of weak US jobs data has helped underpin speculation we’ll see early Fed move to increase quantitative easing. That said, the pairing continues to struggle to hold ground above 1.4000.
Euro zone data due today:
06:45 GMT: French industrial production for August expected +0.3% m/m, +3.0% y/y; manufacturing production +0.4% m/m, +3.7% y/y
08:00 GMT: Italian industrial production for August expected +0.1% m/m, +9.6% y/y (nsa), +6.4% (wda)
16:00 GMT: Trichet speaks on financial system
It’s Monday and it’s Columbus Day in the US. Will be interesting to see how much interest the market has to push the envelope today. Guess they’ll be stops gathering just above the 8-month high at 1.4030.