EUR/USD has given up the best part of a big figure overnight in Asia, presently at 1.3415.
Some attention being given to a Handelsblatt article in which EU ministers highly critical of the inner workings of the EU and the divergence among EU economies. having grave concerns about the so called PIGS. Picking up talk that the article may have been dated January 29th. Anyways, suffice it to say concerns surrounding Greece and it’s southern neighbours remain to the fore.
Fair amount of euro zone data due today:
08:00 GMT: French manufacturing PMI for March expected 54.6 from 54.9; services 54.8 from 54.6
08:30 GMT: German manufacturing PMI for March expected 56.8 from 57.2; services 52.2 from 51.9
08:30 GMT: Italian consumer confidence index for March expected 106.5 from 107.7
09;00 GMT: German Ifo March; expectations expected unchanged at 100.9; business climate 95.8 from 95.2; current assessment 91.0 from 89.8
09;00 GMT: Euro zone manufacturing PMI for March expected 54.0 from 54.2; services 52.0 from 51.8; composite 53.5 from 53.7
09:00 GMT: Italian unemployment rate s.a Q4 expected 7.9% from 7.8%
10:00 GMT: Euro zone industrial orders for January expected +1.8% m/m
Much talk of 1.3400-1.3900 DNT being in place, with defence of lower parameter lending support, albeit a little tenuous, at the present time. More stops tipped below 1.3400.
