EUR/USD has opened up a touch easier, presently down at 1.4620 from a North American close Wednesday up around 1.4640. There’s been a slight pick up in risk aversion with Asian stocks trading lower and this has resulted in the greenback trading generally a little firmer.
Fair few European economic data releases today;
6:00 GMT: German retail sales for August expected +0.2% m/m, -0.8% y/y
07:30 GMT: Swiss SVME PMI for September expected 51.0 from 50.2
07:45 GMT: Italian PMI for September expected 45.2 from 44.2
07:50 GMT: French PMI September (final) expected 52.5
07:55 GMT: German PMI September (final) expected 49.6
08:00 GMT: Euro zone PMI September (final) expected 49.0
08:00 GMT: Italian trade non EU for August
09:00 GMT: Euro zone unemployment for August expected 9.6% from 9.5%
Technical supports 1.4600/05, 1.4575/80 and 1.4545/50, resistances up at 1.4665/75 and 1.4700/05.
Talk of sovereign sell orders lying in wait up at 1.4700/20.
