EUR/USD sits at 1.4935 having closed out Friday in North American down around 1.4845. We’ve been as high as 1.4942 so far, with well-documented stops above 1.4915 having been triggered.
The move comes with the G20 having done nothing to support the dollar, while the IMF feels record low U.S. interest rates are funding global “carry trades” and that the greenback is still over-valued as concerns mount that new financial imbalances are forming.
Elsewhere, Moody’s has changed China’s outlook to positive from stable, citing the Chinese government’s success in steering the nation through the global financial crisis.
Risk appetite in good shape with Europe stocks looking likely to open nicely firmer.
A decent run of Euro zone data due today given it’s a Monday:
07:00 GMT: German current account, trade balance, imports, exports for September
09:30 GMT: Euro zone sentix investor confidence for November
11:00 GMT: German industrial production for September.
