Well that’s what I think is going on. EUR/USD sits at 1.2698, little easier than North American close Wednesday up around 1.2720.
ECB’s Stark opining that German banks are undercapitalized yesterday didn’t do the euro any favours. Worries surrounding European banks and PIIGS never far from the surface.
Data due today:
05:30 GMT: French non farm payrolls Q2 (final) expected +0.2%
06:00 GMT: German CPI (final) for August expected flat m/m, +1.0% y/y
08:00 GMT: ECB publishes September monthly report
That little lot isn’t going to have much, if any, impact.
As Sean mentioned earlier, talk of sovereign buy orders down around 1.2660, stops through 1.2655.
