EUR/USD down at 1.3905 from a North American close Wednesday up around 1.3955.
Market has noted interview given by US Treasury Secretary Geithner to WSJ. Especially the comment “major currencies which are roughly in alignment now.” The suggestion being that the official sees no need for the dollar to sink more than it already has against other majors.
General risk aversion has also picked up a little in wake of China’s Q2 GDP coming in at 9.6%, down from previous 10.3%.
For today euro zone data scheduled:
06:45 GMT: French business confidence for October expected unchanged 98; French own company production outlook and outlook indicator
07:00 GMT: French manufacturing PMI for October expected 55.5 from 56.0; services PMI expected 57.5 from 58.8
07:30 GMT: German manufacturing PMI for October expected 54.6 from 55.1; services PMI expected 54.7 from 54.9
08:00 GMT: Euro zone manufacturing PMI for October expected 53.2 from 53.7; services 53.7 from 54.1; composite 53.7 from 54.1
14:00 GMT: Euro zone consumer confidence expected unchanged -11.
Buy orders seen clustered around 1.3875 and more down around 1.3850. Probably stops close below there. We’ll have to try and confirm level as morning gets underway. Sell orders up around 1.4000. Stops above 1.4030.
