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EUR/USD experiences narrow range trade in Asia

By Gerry Davies  || March 10, 2010 at 06:03 GMT
|| 12 comments || Add comment

EUR/USD sits at 1.3600, unchanged from where it closed out Tuesday in North America, with Asian trade confined to very narrow 1.3588-1.3613 range.

Euro zone data due today:

07:00 GMT: German trade for January expected 14.5 bln, current account 15.0 bln

07:00 GMT: German CPI for February (final) expected +0.2% m/m, +0.4% y/y

07:45 GMT: French industrial production expected +0.1% m/m, +1.7% y/y manufacturing production +0.2% m/m

09:00 GMT: Italian industrial production expected +0.7% m/m, -3.7% y/y

10:00 GMT: Italian Q4 GDP (final) expected -0.2% q/q, -2.8% y/y

Would expect to see renewed sovereign buy interest emerge on any dips to 1.3550. Stops seen through 1.3525.  Stops on topside through 1.3630.

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12 Responses to “EUR/USD experiences narrow range trade in Asia”

  1. Zeke on March 10th, 2010 06:39 GMT

    Good morning Gerry. Do you think there’s any chance of a ‘discount’ from the land of good-news-only (Australia) before emp. data? Currently long USDCAD and debating just entering A$ @ market since the dips are hard to come by.

  2. Guy on March 10th, 2010 06:43 GMT

    Morning Gerry! I have the German CPi etc at 0700 (from your Economic Calender) but above you say 0800 GMT – anywhere I or you could double check these pls? Wondering if I have time for bacon sarnie before things might move?! Thx, G

  3. Gerry Davies on March 10th, 2010 07:04 GMT

    Hi Guy, thks for heads up. yes it was wrong time. ive gotten in habit over years of using a calendar, not ours. They seem to have recently employed the local village idiot to fill in calendar. best i start using another, I guess

  4. Guy on March 10th, 2010 07:10 GMT

    No worries Gerry – actually I spotted your new News Int’l column saying 0700 too so held up on doing the sarnie – might get one now though!! Cheers ;-)

  5. Gerry Davies on March 10th, 2010 07:12 GMT

    Enjoy the sarnie. I like MNI’s calendar stuff. tHey also give who’s peaking during the day, which is very useful.

  6. Gerry Davies on March 10th, 2010 07:13 GMT

    speaking, that is. i need some strong coffee to wake up properly. .

  7. Steve on March 10th, 2010 07:21 GMT

    Morning Gerry, was really dissapointed to hear the news! being a life long Spurs fan !!

  8. Guy on March 10th, 2010 07:24 GMT

    I’ll put a pot on Gerry and email you a cup?!

  9. gerry davies on March 10th, 2010 07:26 GMT

    Boy, Spurs fan!!!!. Sorry to hear that Steve. All those years of suffering………

  10. Steve on March 10th, 2010 07:34 GMT

    It might of been that , that tipped me over the edge 10 years ago!
    slowly improving this year, but still lacking something!
    anyhow how low today? don’t think my pension ’s looking too safe?

  11. Gerry Davies on March 10th, 2010 08:48 GMT

    Hi Zeke sorry for getting back a bit late on aussie. Haven’t been following aussie too closely of late. You’re best off asking Sean as to possible timing of rate hike to be honest. Suffice it to say he seems quite bullish the aud. I also found Jamies comments on AUD/JPY interesting yesterday with custodials buying aggressively. Hasn’t really looked back since.

  12. Gerry Davies on March 10th, 2010 08:51 GMT

    1.4880 seems well documented support with stops apparently parked just below there. Might even have seen low today



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