Despite the CPI-led fall in EURUSD to 1.0582 there are other forces at work
Earlier on I reported the very large option expiries with two particularly in focus at 1.0500 (€4.6bln) and 1.0600 (€4bln)
Those figures are now up to €4.7bln and €4.75bln respectively and MNI report their sources as telling them there's a few buyers lined up now between 1.0575-80, as I reported in my order board post earlier
The two probably not unrelated and at current levels of 1.0590 we can expect the price action to stay close-by albeit not without some volatility as we've seen already after earlier 1.0637 highs
Another one in play is EURJPY at 130.00 (€1bln) which if near prevailing price after ADP/Yellen could well add to the EURUSD contracts impact
Don't forget these expiries are vanilla options which means they are still in play right up until expiry time of 15.00 GMT even if breached prior
For more on how to use the expiry info click here.
