EUR/USD sits at 1.4725, exactly where North America closed out Wednesday, Asian trade seeing price action confined to a very narrow 30 points.
Risk appetite remains in good shape with Asian stocks posting decent gains. The Shanghai share index is currently up some 1.7%.
A couple of Euro zone data releases today;
09:00 GMT: Euro zone trade July expected +6.4 bln, s.a. +1.1 bln
09:00 GMT: Euro zone construction output July
Interesting to see comments from Chen Dongqi, vice-head of the macroeconomic institute under the National Development and Reform Commission (NDRC). The official told a conference that he sees a double-digit annual rise in China’s GDP in the Q-4 bringing full year growth to between 8% and 9%, which would mean the government exceeding it’s 8% target.
Technical supports 1.4700/05 and 1.4680, resistances 1.4735, 1.4750, 1.4770.
Talk of barrier option interest at 1.4750 and 1.4760, with sell orders said to lie just ahead of there at 1.4735 up through 1.4750.
