EUR/USD sits at 1.3460, pretty much where it closed out Monday in North America. There appears to have been some excitment (I use the term loosely) surrounding WSJ article entitled “Fed mulls new bond approach,” which put EUR/USD under some pressure.
Euro zone data due today:
German CPI for September expected -0.2% m/m, +1.3% y/y
06:00 GMT: German GfK consumer confidence survey for October expected 4.2 from previous 4.1
06:45 GMT: French consumer spending for August expected -0.2% m/m, +0.9% y/y
07:30 GMT: Italian consumer confidence for September expected 104 from previous 104.1
08:00 GMT: Italian hourly wages for August
Stops remain up above 1.3510. On down side talk of stops below 1.3400.
