EUR/USD down at 1.3223 from North American close Tuesday up around 1.3260, with the dollar seeing across the board gains as US yields continue to climb. The Obama tax extension has the fixed income market worrying about increased price pressures and the burgeoning budget deficit. 10 year treasury yield yesterday broke above the 3.10 200 dma and is presently up at 3.2283.
Euro zone data due today:
07:00 GMT: German trade balance for October expected 15.1 bln; current account 14.3 bln
07:30 GMT: Bank of France business sentiment for November expected unchanged 103
07:45 GMT: French central bank balance for October
07:45 GMT: French trade balance for October expected -4.2 bln from previous -4.7 bln
11:00 GMT: German industrial production for October expected +1.0% m/m, +10.0% y/y
European stocks expected to open marginally weaker this morning; FTSE and DAX down around 0.3%, CAC 40 down 0.5%
UPDATE: Please note European stocks to open DOWN not up.
