EUR/USD sits down at 1.3825 from a North American close Tuesday up around 1.3855, the pairing having been as low as 1.3803 during Asian trade. So far protection of well-documented, decent-sized opton interest at 1.3800 is holding the line.
The Fed QE debate rumbles on relentlessly ahead of next weeks meeting. The latest salvo comes from a WSJ piece, which suggests a watered down version of QEII. This article has helped pressure EUR/USD overnight.
Euro zone data due today:
German CPI for October expected +0.1% m/m, +1.3% y/y
06;45 GMT: French consumer spending for September expected 0.4% m/m, -0.3% y/y
07:30 GMT: Italian business confidence for October expected 98.5 from 98.4
08:00 GMT: Euro zone M3 money supply for 3m September expected +0.9% m/m, +1.3% y/y
Can’t see any of the above data getting pulses racing very much.
