EUR/USD has seen steady trade in Asia, as the weeks trading got off to a subdued start. We’re presently at 1.4165 with the range in Asia 1.4135-1.4173. It’s interesting to see that the sell orders reported Friday up at 1.4175/85 have so far capped the topside. Might well be some stops through 1.4185.
Any moves down toward 1.4050/80 area expected to ellicit renewed sovereign buy interest. Most probably stops through 1.4050.
The cupboard is almost bare as regards euro zone economic data due for release today:
07:00 GMT: German Gfk consumer confidence survey for February expected 3.2 from previous 3.3
European stockmarkets expected to open sharply lower today.
They’ll be some relief though that it looks like Bernanke is to be re-confirmed as Fed chairman.
