EUR/USD just ain’t budging in early European trading, effectively unchanged at 1.4405. ECB rate decision awaited.
Rates almost certain to be kept on hold at 1%. Market will be looking to Trichet for hints regarding quantitative easing and monetary policy bias. Probably won’t give much away on either front.
For today, or certainly in the run up to the announcement and subsequent press conference, EUR/USD looks ensconsed in well-defined 1.4350-1.4450 range (barring any major surprises, ofcourse.)
Offers seen ahead of 1.4450 barrier option interest with stops said to be gathered just above. Then we have more offers head of 1.4500 barrier option interest with stops just above there. Exciting stuff…….