EUR/USD is trading firmer this morning, up at 1.3710 from a North American close Monday around 1.3660.
News Trichet leaving central bankers meeting in Sydney day early to attend EU leaders meeting has the market in a bit of a tizzy, heightening speculation that a Greek rescue plan could be in the offing. Weekend media reports had EU President Herman van Rompuy “quietly hatching a plan” so this speculation is no surprise.
Euro zone data due today:
07:00 GMT: German trade balance for December expected 15.0 bln; current account 19.1 bln
07:00 GMT: German CPI for January (final) expected -0.6% m/m, +0.8% y/y
European stocks expected to open lower this morning.
Stops seen through 1.3720 and 1.3760.
