EUR/USD is opening lower again this morning, presently down at 1.3460 from a North American close Wednesday up around 1.3535.
The euro losses come with rating agencies warning of possible downgrade to Greece’s credit rating in very near future. This opens up possibility of Greek bonds being inelligible for use as collateral at the ECB, making it more difficult for country to borrow.
Also spooking the market is a negative article in the WSJ entitled The Euro’s next battleground: Spain.
Euro zone data due today
07:45 GMT: French consumer confidence indicator for February expected -28 from -29
07:45 GMT: French producer prices for January expected +0.3% m/m, +0.1% y/y
08:30 GMT: Italian business confidence for February expected 83.6 from 83.2
08:55 GMT: German unemployment change for February expected 16k from previous 6k, Unemployment rate unchanged at 8.2%
09:00 GMT: Euro zone M3 money supply for January expected (3M) -0.1%, flat y/y
10:00 GMT: Euro zone business climate indicator for February expected -1.05 from -1,12; industrial confidence -13 from -14; consumer confidence unchanged at -17; services confidence unchanged at -1
No sure, but there could well be barrier option interest at 1.3450, will have to check. Not that that’s made too much difference in the past.