EUR/USD sits at 1.4355, little changed from where North America left off Thursday with Asian trade having been confined to a pretty narrow range.
The market still seems to be trying to digest what happened during yesterdays North American afternoon session. It seems a huge USD/CHF sell order went through the market, and this was the catalyst for most of the fun and games, which saw EUR/USD spike to 1.4404 at one stage.
Euro zone data due today:
09:00 GMT: Italian PPI July expected -0.3% m/m, -8.1% y/y
09:00 GMT: Euro zone economic confidence expected 78 from previous 76.0; Business climate -2.50 from previous -2.71; consumer confidence -21 from previous -23; industrial confidence -28 from previous -30; services confidence -17 from previous -18
Technical supports 1.4340/45, 1.4320, resistances 1.4375/80, 1.4400/05.
