EUR/USD at 1.3495 is little changed from North American close Monday around 1.3485.
Better than expected ZEW data (German April economic sentiment coming in at 53.0 from 44.5 in March, above median forecast of 45.1) has lent the pairing underpinning.
Also Greece’s 3-month treasury bill auction went pretty well, selling 1.95 bln euros of 13-week securities at a 3.65% yield. Investors bid for 4.61 times the securities offered.
BIS was notable buyer of EUR/USD this morning in Europe. Also talk that a well known Middle Eastern Monetary Authoritiy was a buyer too. Despite that euro bulls haven’t managed to hold ground above 1.3500. Obviously still some nervousness surrounding Greece situation.
Talk buy orders 1.3450 and 1.3400/20. Buy stops rumoured through 1.3530 with sell orders noted at 1.3545/55.
Personally was very interested to see Sean’s “man” mentioning there could be some significant flows going through in next 48 hours which could possibly drive EUR/USD higher.
