EUR/USD has opened firmer in Europe from where it closed out last week, presently up at 1.5050. The pairing has been supported by the growing feeling that the situation in Dubai can be contained, with Dubai’s neighbour Abu Dhabi offering support, albeit selective, and the U.A.E central bank offering regional banks emergency support.
Euro zone data due today:
07:45 GMT: French PPI for October expected +0.2% m/m, -7.3% y/y
10:00 GMT: Italian CPI for November expected +0.2% m/m, +0.8% y/y, EU harmonised +0.1% m/m, +0.8% y/y
10:00: GMT: Italian PPI for October expected +0.1% m/m, -6.0% y/y
10:00 GMT: Euro zone CPI for November expected +0.4% y/y
European stockmarkets expected to open moderately firmer.
Sell orders seen in EUR/USD up at 1.5080/85 and at 1.5100, stops just above there. Then more sell orders up at 1.5140/50, stops around 1.5170.
