EUR/USD up at 1.3095 from North American close Monday down around 1.3065. . Again we’ve had reports of Asian sovereign buying overnight in Asia, but when all said and done we’re seeing narrow rangebound trade at the moment.
Ongoing worries surrounding financial well being of the euro zone’s PIIGS is curtailing the upside, while speculation Fed could possibly signal QEII later today is limiting downside.
No major euro zone data releases today, but we do have debt auctions from Ireland, Greece and Spain. These have been going OK of late.
UPDATE: Apparently Portugal’s auction is tomorrow. Results expected: Spain 08:30 GMT; Ireland 09:00 GMT; Greece 09:15 GMT.
Spain and Greece short end, Ireland longer dated and seen as most important.
Talk sell stops through 1.3020 and more through 1.3000, buy stops through 1.3130.
