EUR/USD sits at 1.4455, firmer from a North American close Monday down around 1.4410. The New Year has seen the reflation trade reignited and this a weighing on the greenback. Overnight, Asian stocks performed well with oil tagging on another 25 cents or so.
South Korea has once again been buying dollars against the won, some of which will eventually be transferred into euros.
Euro zone data releases today:
07:45 GMT: French consumer confidence index for December expected -29 from -30
08:55 GMT: German unemployment change for December expected +5k, unemployment rate steady at 8.1%
10:00 GMT: Euro zone CPI for December expected +0.9% y/y
European stocks looking likely to open marginally easier after yesterdays gains.
EUR/USD support 1.4400/05, resistances 1.4470/75, 1.4500/05.
