EUR/USD having opened firmer is steady in early Eurpean trade. We’re presently at 1.4710, up from a North American close Monday around 1.4670.
The USD bulls just can’t catch a break at the moment. The USD has come under pressure on speculation the G20 leaders will call for gains in other currencies to help reduce global trade imbalances.
Technical resistances now at 1.4720/25 and 1.4765/70. Buy stops said to be gathered just above 1.4770. On downside, supports at 1.4675/80 and 1.4640.
The euro zone economic data cupboard is once again pretty much bare today.
All we’ve got is 09:00 GMT: Italian Q-2 unemployment expected 7.7%, up from previous 7.3%
We’ve got some Swiss data
05:45 GMT: Swiss SECO 2009 economic forecasts September
06:15 GMT: Swiss August trade data
