EUR/USD sits at 1.3615, to the exact point where I had it closing out last week in North America.
Attention remains on Egypt and other countries in the region. One thing I would mention is that I agree with what David said overnight; these sort of geopolitical events do have a tendancy to have a somewhat short shelf-life for the market, despite their obviously harrowing nature.
Elsewhere euro zone economic data for today as follows:
07:00 GMT: German retail sales for December expected +2.0% m/m, +1.1% y/y
07:45 GMT: French producer prices for December expected +0.6% m/m, +5.0% y/y
09:00 GMT: Italian producer price index for December expected +0.6% m/m, +4.5% y/y
10:00 GMT: Euro zone CPI (estimate) for January expected +2.3% y/y
10:00 GMT: Italian business confidence for January expected 103.5 from 103.0
Talk of stops now through 1.3570 and 1.3540.
