EUR/USD has retained it’s bid tone overnight, presently at 1.5020. The euro bulls, with a US investment house to the fore, have managed to blow up the 1.5050 barrier option interest along the way. The pairing managed to get to an Asian session high of 1.5060 (possibly 1.5061) before an Asian sovereign stepped in and capped the advance. Next barrier option interest at 1.5100.
Lots of euro zone econ0mic data this morning to keep the market on it’s toes:
06:45 GMT: French Oct consumer spending expected +0.5% m/m, -0.4% y/y
07:00 GMT: French Oct PMI services expected 54.0, manufacturing 53.3
07:30 GMT: German Oct PMI services expected 52.5, manufacturing 50.1
08:00 GMT: Euro zone Oct PMI services expected 51.3, manufacturing 50.0, composite 51.6
08:00 GMT: German Oct ifo business climate expected 92.0, current assessment 88.0, expectations 96.2
09:00 GMT: Euro zone August industrial new orders expected +1.2% m/m, -22.5% y/y
