EUR/USD is trading very marginally easier in relatively subdued Asian trade. Presently down at 1.3600 from a North American close Friday up around 1.3615.
US treasury yields are firmer, 30 year at 4.5880, and this is lending the greenback some general marginal support.
Euro zone data due today:
08:00 GMT: French manufacturing PMI for January expected 57.3 from 57.2; services 55.2 from 54.9
08:30 GMT: German manufacturing PMI for January expected 60.9 from 60.7; services 59.0 from 58.3
09:00 GMT: Euro zone manufacturing PMI for January expected 57.0 from 57.1; services 54.3 from 54.2; composite 55.6 from 55.5
10:00 GMT: Euro zone industrial new orders for November expected +1.9% m/m, +17.4% y/y
Sean mentioned sovereign bids lined up down at 1.3550/70. Guess sell stops close by, most probably through 40. We’ll have to get confirmation as morning progresses. Guess they’ll probably be barrier option interest up at 1.3650. Recent price action tends to suggest so. Not that barrier interest has proven much of a barrier of late.
