EUR/USD sits at 1.3330, marginally lower from where North America closed out Wednesday, with Asian trade confined to narrow 1.3314-1.3348 range. Protection of 1.3300 option interest (1.33-1.36 dnt) is so far helping limit euro losses.
Euro zone data/events today:
06:45 GMT: French central government balance February expected -3.4 bln
09:00 GMT: Euro zone retail sales for February expected flat m/m
10:00 GMT: German industrial production for February expected +0,8% m/m
11:45 GMT: ECB rate decision. (seen on hold at 1.0%)
12:30 GMT: Trichet press conference
Talk of stops just below 1.3300 option interest, but these could be absorbed by profit taking as we’ve seen in the past. More seen through 1.3260.
Talk of sell orders up at 1.3350 and more up at 1.3390 through 1.3410.
