EUR/USD is marginally easier after another slow Asian session, presently down at 1.3530 from a North American close Monday up around 1.3555.
The question of an aid package for Greece still seems firmly up in the air as we head into the March 25/26 EU summit. Germany’s Chancellor Merkel has said that there is no need for EU leaders to make “concrete decisions” on Greek aid at the summit, which doesn’t bode well. While the matter remains unresolved it seems the euro will struggle to make appreciable, sustainable, gains.
Another quiet day on the euro data front:
07:45 GMT: French business confidence indicator for March expected 92 from 91; French own company production outlook -5 from -6; French production outlook indicator -6 from -5
Small stops tipped through 1.3500 with buy orders (including sovereign interest) 1.3480 down to 1,3430. Sell orders 1.3570/00, stops above 1.3600.
