Large option expiries still casting a shadow along with the ECB

The euro is seeing contained ranges as we wait for the ECB at 13.30 GMT

In addition to the ECB uncertainty we also have some large EURUSD option expiries rolling off at 15.00 GMT

EURUSD 1.0850-60 ( EUR 1bln) 1.0870 (383m) 1.0900 (335m) 1.0925 (432m) 1.0950-60 (1.2bln)

Remember that these are vanilla and hence still in play right up to expiry regardless of being breached prior or not.

Unless we get a real news bomb from Draghi that takes us well outside the current 1.0900 median expect these expiries to make some impact as the presser dust settles.

EURUSD currently 1.0904

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