EUR/USD up at 1.2215 from North American close Tuesday down around 1.2190. Pairing supported by real money, Asian sovereign buying, but it’s pretty dull fare when all said and done.
We’ve got the German Presidential Election today. Merkel’s candidate Christian Wulff is up against center-left opposition candidate Joachim Gauck. Wulff is expected to win. A surprise defeat would most probably weigh on the euro.
Euro zone data due today:
07:30 GMT: Italian business confidence for June expected 96.1 from 96.2
07;55 GMT: German unemployment change for June expected -30k from previous -45k; unemployment rate steady at 7.7%
08:00 GMT: Italian PPI for May expected +0.4% m/m, +3.6% y/y
09:00 GMT: Italian CPI for June expected 0.1% m/m, +1.4% y/y
09:00 GMT: Euro zone CPI forJune expected +1.5% y/y
European stocks expected to open little mixed today after recent losses.
Talk of sell orders 1.2220 up through 1.2250. Probably stops close above that. Will try and find exactly where as morning progresses.
