EUR/USD sits at 1.3230, down from a North American close Friday up around 1.3310. The Greek aid package was duly announced and offered no real surprises, coming in pretty much as expected. Hedge funds have been notable sellers in this latest leg lower. Stops were tripped through 1.3250 accelerating the sell-off with a 1.3205 session low posted.
Not much in the way of euro zone data today:
07:45 GMT: Italian manufacturing PMI for April expected 54.2
07:50 GMT: French manufacturing PMI for April (final) expected 56.7
07:55 GMT: German manufacturing PMI for April (final) expected 61.3
08:00 GMT: Euro zone manufacturing PMI for April (final) expected 59.5
Talk buy orders 1.3200/10 with stops below there. Sell orders seen up at 1.3250/60. Probably trailing stops not far above there. Mutterings BIS was buyer around overnight lows
