No respite yet in trading volatility. EUR/USD sits presently at 1.2680. Pairing has managed to garner something of a footing after yesterdays freefall, helped by bounce in EUR/JPY with BOJ pumping liquidity into the market (BOJ offered to loan 2 trillion yen against pooled collateral through an auction for settlement today in an agreement expiring 5/10) while elsewhere G7 finance ministers to discuss Greece’s debt situation today.
Euro zone data today:
06:45 GMT: French trade balance for March
10:00 GMT: German industrial production for March expected +1.5% m/m, +6.3% y/y
In a very uncertain market one thing is for certain; there’s a very large 1.2500-1.3500 dnt in play. Robust defence of lower parameter can be expected.
