EUR/USD presently at 1.2270, up almost exactly a big figure from where North America closed out Wednesday. Chinese have been out indicating they’ll keep European investment at current levels. Future investments will depend on currency issue, regulation issues, economic policies.
Asian stocks have done OK while S&P futures up over 1%.
Korean won up around 2% versus dollar on perception recent sell off overdone and as local stocks rebound. Gains should negate need for aggressive intervention by Korean authorities to support their currency and therefore need for BOK to sell EUR/USD quite as aggressively as it has done of late.
Euro zone data due today:
German CPI for May (prov) expected +0.1% m/m, +1.2% y/y
06;45 GMT: French consumer confidence indicator for May expected -38 from previous -37
07:30 GMT: Italian business confidence for May expected -85.8 from 85.5
08:00 GMT: Italian hourly wages for April
Talk of fairly decent buy orders lined up down at 1.2150 in EUR/USD.
