EUR/USD sits at 1.2900, effectively unchanged from where it closed out last week. No respite yet for the beleaguered single currency, periphery debt woes continuing to weigh heavily.
Der Spiegel has reported that Germany and France want Portugal to accept aid. German Finance Ministry denies Germany pressing Portugal to seek aid. And so it goes.
Euro zone data due today:
07:45 GMT: French industrial production for November expected +1.0% m/m +4.4% y/y. Manufacturing production expected +0.8% m/m, +3.6% y/y
09:00 GMT: Italian deficit to GDP Q3
09:30 GMT: Euro zone sentix investor confidence for December expected 11.8 from previous 9.7
12:00 GMT: ECB’s Trichet press conference
16:00 GMT: ECB’s Costa speaks on European economy
Sovereign bids seen ahead of 1.2850 barrier option interest. Sell orders 1.2930/50, buy stops above there.
